Russia wants to proceed with the agreed-upon throttling of the Oil production between OPEC member countries and other eligible countries. The goal is to stabilize the price of Oil.
Russia wants to go at the agreed-upon throttling of the Oil production gradually. The Minister of energy, Minister of energy Alexander Novak announced. The 15 member States of the organization of the petroleum exporting countries (OPEC) had agreed in the past week – despite pressure from U.S. President Donald Trump with key partner countries like Russia to reduce Oil production starting in January 2019 to 1.2 million barrels per day. The oil cartel is to reduce its daily production by 800,000 barrels. Non-OPEC States should contribute a further 400,000 barrels per day.
About 33 million barrels of crude oil, OPEC-member States promote currently.
The agreement to be signed in three months in Saudi Arabia, informed the Minister of energy of the United Arab Emirates. After six months, should be an extension decided.
Trump had exercised prior to the Meeting, pressure on the OPEC-member Saudi Arabia, to not take funding cuts to distance, not to burden the world economy.
