China News Service, April 17th, according to the Russian Satellite Network, on the 16th local time, Russian Energy Minister Novak and Saudi Arabian Energy Minister Salman held a telephone conversation, the two sides will work to implement the new "OPEC +" production reduction protocol.
According to reports, after the meeting, the Russian Ministry of Energy stated that Russia and Saudi Arabia firmly implemented the new production reduction agreement between the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing countries. Take necessary measures with other oil-producing countries "to stabilize the market.
On the 12th local time, OPEC reached an oil production reduction agreement with non-OPEC oil-producing countries led by Russia. According to the agreement, the reduction in output from May to June will be 9.7 million barrels per day, from July to the end of the year will be reduced to 7.7 million barrels per day, from January 2021 to April 2022 will be reduced to 580 per day Ten thousand barrels.
OPEC Secretary-General Mohammed Barking once said that the production reduction agreement is the largest in scale and lasts for the longest time and has historic significance. The agreement benefits the oil-producing countries, consumers and the global economy and is a victory for international cooperation and multilateralism.