MOSCOW, April 3 Press Secretary of the President of the Russian Federation Dmitry Peskov believes that in the interests of world energy it is necessary to support oil prices, whether other countries are happy or not is up to them .
«We focus on the decisions that are made by oil-producing countries… In this case, the position of OPEC and OPEC + is important, and in this case, it is in the interests of world energy to maintain world oil prices at the proper level… Here on it is necessary to be guided, and the satisfied or dissatisfied state of other countries is their own business,» Peskov told reporters.
As previously stated by the Ministry of Energy of Saudi Arabia, the kingdom, as a preventive measure to maintain stability in the oil market, will reduce its production by 500,000 barrels per day. Kazakhstan decided to reduce production by 78 thousand barrels per day. The UAE state agency WAM, citing other relevant departments, writes that the UAE will reduce production by 144,000 barrels per day, Iraq — by 211,000, Kuwait — by 128,000, Oman — by 40,000, Algeria — by 48,000.
On Sunday, Russia decided to extend a voluntary cut in oil production by 500,000 barrels per day until the end of 2023, Russian Deputy Prime Minister Alexander Novak said. Previously, voluntary production cuts were announced by Russia only for March, but then extended until the end of June.