Novak on reduction of Russia's oil production

Fri 13 Jul 2018 07:27 GMT | 11:27 Local Time

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Russia reduced crude oil production by 120 thousand barrels per day within the OPEC + deal in June, Russia’s Energy Minister Alexander Novak said.

Earlier, the International Energy Agency (IEA) raised its forecast for global demand for Russian oil this year to 3.63 million barrels per day.

The IEA estimates demand for the Russian oil will average 3.66 million bpd in 2019, RIA Novosti reported. 

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