Russia calls for tighter compliance with oil output cuts

 


MOSCOW (AP) — Major oil producers need to show greater discipline in sticking to output cuts aimed at raising the price of crude, Russia's energy minister said Monday.

OPEC and several non-OPEC states like Russia decided last year to rein in output, but prices have fallen below $50 a barrel in recent weeks amid concerns about higher production in the U.S., which was not part of the deal, and some countries' lack of discipline in enforcing the cuts.

Following a meeting of OPEC and non-OPEC countries in the Russian city of St. Petersburg on Monday, Alexander Novak said complained that "some coun...



For access to this article please sign in or subscribe.

 

Reader Comments(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2024