On Thursday, Russia’s Foreign Minister Sergei Lavrov said that Russia supported the recommendation of the Joint Technical Committee (JTC) of the Organization of Petroleum Exporting Countries and its allies (OPEC+) to deepen oil production cut by 600,000 bpd.
Lavrov stated, “Russia supports the additional cut.”
He elaborated that recently, President Vladimir Putin had a talk with Saudi Arabia about the coronavirus and the consequences for the global economy, and therefore, the global oil market.
According to Lavrov, Russia was consulting to determine the optimal measures for all market participants.
