14 Oct 2019 12:34

Russia to fulfill OPEC+ deal 100% through end of year - Novak

RIYADH. Oct 14 (Interfax) - Russia intends to fulfill its obligations under the OPEC+ deal through the end of the year, Energy Minister Alexander Novak told journalists.

"Yes, it's our aim and we're adhering to fulfilling the deal in full [through the end of the year]," he said, adding that there will be "100%" compliance with the deal in October.

Earlier, Novak said that in September, Russia was able to reduce production by 200,000 bpd relative to the figure for October 2018. Under the OPEC+ deal, Russia must reduce production by 228,000 bpd. Compliance with the deal was thus only 88%.

Russia said the failure to comply was due to the contamination of oil in the Druzhba pipeline, which led to sharp production decreases in May-July; in August, the country ramped up production in order to meet its obligations.