Russia may cut oil ouput by 300kbpd faster than expected

Russia energy minister Novak on Reuters

  • Russia will stick to its pledges to cut output

  • Expects other countries to speed up output cuts

  • Will attend monitoring committee March 25th

  • Continuation of output cuts in H2 will depend on how the market is balanced

So far, non-OPEC suppliers are at around a 50% compliance level in their part of the deal.

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