RUSSIA ROSNEFT ECONOMY

Russia extends a voluntary cut in oil production until the end of 2023

epa10559799 A brand logo at a gas station of Russian integrated energy company PJSC Rosneft, one of the largest Russian oil producing companies, in front of Mosque in Moscow, Russia, 05 April 2023. Russia has extended a voluntary cut in oil production by 500,000 barrels per day until the end of 2023, which has been in effect since March. Similarly, Saudi Arabia will voluntarily reduce oil production by 500,000 bpd from May until the end of 2023. The United Arab Emirates, Kuwait, Iraq, Oman and Algeria will also voluntarily cut production until the end of 2023. EPA/YURI KOCHETKOV

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