OPEC - Russia to hike oil output in Feb., March

NEWS IN ENGLISH

Russia will increase its oil production by 65,000 barrels per day (bpd) in both February and March, the Organization of the Petroleum Exporting Countries (OPEC) announced in a statement on Tuesday.


In addition, Kazakhstan will increase the oil output by 10,000 bpd in those two months, while other countries' reductions will remain on the level agreed upon during the OPEC December meeting. Total OPEC+ cuts would therefore amount to 7.125 million bpd in February and to 7.050 million bpd in March.
"Production adjustments for April and subsequent months will be decided during the monthly" ministerial meetings between OPEC and non-OPEC countries and will follow the previously agreed-upon criteria, the cartel added.
 

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