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Russia ready to cut oil output by 300,000 barrels per day

AFP  |  Moscow 

Russian Energy Minister Alexander Novak, responding to a decision by OPEC today to reduce crude output to lift prices, said was ready to cut its own production by 300,000 barrels a day next year.

"will progressively reduce its production by 300,000 barrels a day in the first half of 2017," Novak was quoted by the state agency Ria-Novosti as saying, adding the move was conditional on the OPEC decision being "upheld.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 01 2016. 00:42 IST