Russian Deputy Prime Minister Alexander Novak reaffirmed his country’s full commitment to the voluntary reduction in oil production, noting that pipeline supplies to the European Union have declined by more than two-thirds.
“Considering the unfounded speculation in the press about (Russian) oil production levels, Russia reaffirms its full commitment to the (previously announced) voluntary oil production cut levels,” Novak told reporters on Thursday.
He added, “With regard to media reports indicating growth in exports following the results of monitoring marine shipments, these reports do not take into account the fact that pipeline shipments to the European Union have decreased significantly by more than two-thirds, which were only partially offset by marine exports.”
Earlier, Bloomberg reported that there were no indications of a noticeable decrease in Russian oil exports, despite Moscow’s decision two months ago to reduce its production of black gold.
According to the agency, offshore oil supplies from Russia are stable and even increasing gradually, and in the last week of last April they generally exceeded the level of 4 million barrels per day.
This article was originally published by RT.