“Through continuous negotiations since Friday dawn, we finally announce the conclusion of a historic agreement to reduce production by about 10 million bpd for OPEC + countries starting May 1,” TASS reports.
On April 10, the head of the Russian Ministry of Energy, Alexander Novak, announced that OPEC + agreed on the deal before May 1, 2022.
According to the co-owner of LUKOIL Leonid Fedun, the conclusion of the transaction will bring Russia up to $ 80 million in revenue on a daily basis.