OREANDA-NEWS. The Russian authorities agree to extend the validity of the earlier agreement to reduce oil production, but will not go to its additional reduction, according to Reuters, citing a senior source.

“This position will not change”, the agency’s interlocutor said on the eve of the meeting of representatives of OPEC countries and states that had previously supported the agreement on reducing oil production (OPEC+) scheduled for March 6. The fact that Russia rejected the OPEC proposal for an additional reduction in oil production, reported citing its source.

On the eve of March 5, the OPEC countries recommended deepening the OPEC+ deal and further reducing production by 1.5 million barrels. per day, of which 0.5 million should be borne by Russia and other countries not included in the cartel. At a meeting of the ministerial monitoring committee on March 4, a Russian representative opposed any additional reduction in production, Bloomberg and Reuters reported.

On March 6, Bloomberg, citing its source, said that Russian Energy Minister Alexander Novak, who had left Vienna on March 4 where oil ministers meet, returned to the Austrian capital and said he supported the idea of ​​keeping oil production restrictions at the current level until June.