Russia in compliance with oil production cuts under OPEC+ deal: Deputy premier

Russian deputy prime minister says his country’s oil and gas revenues will reach about $89.12 billion by end of 2023

By Sibel Morrow

Russian Deputy Prime Minister Alexander Novak declared on Thursday that Russian oil companies are fulfilling their oil output cut obligations in line with the OPEC+ pledges that are allocated in proportion to the group’s overall production.

In an interview with the Rossiya-24 TV channel, Novak said Russian companies are fulfilling their obligations voluntarily to maintain oil sector stability and strategic growth while taking into consideration the investments needed to maintain and attract investors to the business.

He said that the Ministry of Finance has confirmed that the country’s oil and gas revenues are on target to reach about 9 trillion rubles ($89.12 billion) by the end of the year, approximately equivalent to the level in 2021.

Kaynak:

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