Deputy Prime Minister Novak, who is in charge of energy issues in the Russian government, said on the 10th that the G7 = seven major countries set a ceiling price for Russian crude oil, etc., and will voluntarily reduce production by 500,000 barrels per day next month. announced that it will
Deputy Prime Minister Novak said in a statement, "Setting a ceiling price is interference in the market and may lead to future crude oil shortages." He criticized the introduction of sanctions that set price ceilings and said the production cut was a countermeasure.
In addition, we will decide on the response after March while monitoring the market situation.
According to local media, the scale of the production cut is equivalent to about 5% of January production.
Russia is a member of "OPEC Plus," which includes oil-producing countries that are not members of OPEC (Organization of the Petroleum Exporting Countries), and OPEC Plus just announced on February 1 that it will maintain a coordinated production cut of 2 million barrels per day.
On the other hand, Reuters reported that there is no plan to compensate for Russia's production cut, saying, "There are no plans to change the plan in response to Russia's voluntary production cut."