Russia nearly hits OPEC+ oil production cuts target

OILPRICE | The leader of the non-OPEC group of the OPEC+ pact, Russia, is showing an unprecedented commitment to the ongoing record collective production cuts by almost complying with its share of the reductions.  


As part of the OPEC+ deal sealed in April, Russia pledged to cut its production to 8.5 million bpd in May and June from a February 2020 baseline, or by 19 percent, from February 2020, Russian Energy Minister Alexander Novak told Interfax in an interview in April. 


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