Russia fully enforces its oil output cuts, Novak says

Russian is fulfilling its oil output cut obligations, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 TV channel on Sunday following a meeting of the OPEC+ group of leading oil producers.

OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, on Sunday after seven hours of talks decided to reduce overall production targets from 2024 by a further total of 1.4 million barrels per day.

“The result of the discussions was the extension of the deal until the end of 2024,” Novak said.