MOSCOW, March 3 The volume of additional voluntary reductions in oil production and exports by Russia in the second quarter of this year will vary: in April, the production reduction will be 350 thousand barrels per day, exports — 121 thousand barrels per day, in May production will be reduced by 400 thousand barrels per day, exports — by 71 thousand barrels per day, in June production will be reduced by 471 thousand barrels per day, said Russian Deputy Prime Minister Alexander Novak.
Novak announced that Russia will further reduce oil production and exports by a total of 471 thousand barrels per day in the second quarter of 2024.
«»The reduction will affect the production and export of crude oil as follows: in April, the production reduction will be 350 thousand barrels per day, and exports — 121 thousand barrels per day. In May, the production reduction will be 400 thousand barrels per day, and exports — 71 thousand barrels per day. In June, the production reduction will be 471 thousand barrels per day,» he said.
Subsequently, to maintain market stability, these additional reductions will be gradually restored depending on market conditions, the Deputy Prime Minister added.
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