MOSCOW, June 5 Russia will implement the general agreements that exist within the framework of OPEC +, this format is very important for ensuring stability in international energy markets, said the press secretary of the President of the Russian Federation Dmitry Peskov, commenting on the decision of the organization to reduce the level of oil production.
«Russia is a participant in this joint understanding. The format continues its work, there are common agreements that, of course, everyone will follow. I would also like to add that, of course, this format retains its importance and its significance for ensuring stability in international energy markets» , Peskov said.
OPEC+, following a meeting on Sunday, announced the extension of its oil deal to 2024 and a decrease in the alliance's total production by 1 from next year .4 million barrels per day.
The OPEC+ Alliance, following a meeting on June 4, announced the extension of its deal for 2024 and a decrease in the total target level of oil production by 1.4 million from next year barrels per day. In addition, additional, so-called voluntary, production cuts by individual countries continue and even are postponed to the next year. Including Russia and Saudi Arabia — 500,000 bpd each, with Riyadh announcing an increase in its cuts for July by 1 million bpd with the possibility of extension.