Russia nods to oil output cut renewal – Kuwait official

Russia nods to oil output cut renewal – Kuwait official
The GCC Petroleum Media Forum in Abu Dhabi

By: Amr Adel

Abu Dhabi – Mubasher: The oil minister of Kuwait, Essam Al-Marzouq, on Thursday said that Russia has approved in principle extending the agreement of reducing oil production to later than June.

Russia’s compliance with the output reduction’s agreement is considered very good, the minister said on the sidelines of the 3rd GCC Petroleum Media Forum in Abu Dhabi.

Russia is the head of independent oil producers of non-members of the Organization of Petroleum Exporting Countries, which agreed on reducing oil production by 558,000 barrels per day.

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Source: Mubasher Exclusive

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