4 Jun 2018 10:59

Russia not complying with OPEC+ deal for third month

MOSCOW. June 4 (Interfax) - Russia did not meet the terms of the deal between OPEC and non-OPEC countries to curb oil production for the third consecutive month in May.

Russia's compliance with the deal amounted to 95% in May, Energy Minister Alexander Novak said.

"Russia reached a level of production reduction of 95% in May. Russia is fully committed to maintaining a balance on the oil market," Novak was quoted as saying by his ministry's press service.

It was reported earlier that daily oil production in Russia averaged about 1.496 million tonnes in May, the same as in April.