Russia cutting output by 300,000 barrels per day by end of April

CNBC | on Fri, Mar 17, 11:44 AM

Russia[1]will cut its oil output by 300,000 barrels per day by the end of April and will maintain production at that level until the global oil cuts deal expires at the end of June, Energy minister Alexander Novak said on Friday. Russia had cut output by 160,000 bpd by the middle of March, said Novak, a figure he said would reach 200,000 bpd by the end of the month. Asked if it was expedient to prolong the cuts deal that includes OPEC[2]and non-OPEC oil producers, Novak said: "It's too early ...

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