Russia announced on Thursday it will cut oil exports by 300,000 barrels per day in September in a bid to ensure balance at global oil markets.
“Within the efforts to ensure the oil market remains balanced Russia will continue to voluntarily reduce its oil supply in the month of September, now by 300,000 barrels per day, by cutting its exports by that quantity to global markets,” Russian Deputy Prime Minister Alexander Novak was quoted by Russian Tass news agency as saying.
He added that this move comes in the context of a voluntary decision to cut oil exports next September.
Source: Kuwait News Agency