June 9, 2023

Dubai Week

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Some countries’ displeasure at cutting oil production is their own thing

“OPEC +” countries cut oil production by about 1.66 million barrels per day

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Kremlin spokesman Dmitry Peskov said some countries’ displeasure with Russia and Saudi Arabia cutting oil production was a matter of its own.

In a statement to reporters on Monday, Peskov responded to a question about the White House’s displeasure with the decision to cut oil production as Russia did, saying, “The satisfaction or lack of certain countries largely depends on them.”

The Kremlin spokesman added, “We are guided by the decisions made by the oil-producing countries, in this case, the position of both “OPEC” and “OPEC +” is important, and it is in the interest of global energy. To maintain. That’s what we have to focus on.”

In a surprise move, on Sunday, the main oil producers in the “OPEC +” alliance – Saudi Arabia, Russia, Iraq, the Emirates, Kuwait, Kazakhstan, Algeria and the Sultanate of Oman – except Gabon, announced a voluntary. A reduction in oil production of 1.657 million barrels per day, from the beginning of next May until the end of 2023, and a share from the voluntary reduction of Saudi Arabia and Russia of 500 thousand barrels per day each.

Dmitry Peskov added that Russia is in constant contact with the countries of the “OPEC +” group, which announced yesterday in a sudden move on Sunday.
Cuts are about 1.66 million barrels per day.