Russia's Commitment to OPEC+ Deal Reaffirmed

Russian Deputy Prime Minister Alexander Novak confirmed that Russia is adhering to its OPEC+ commitments. Eight members decided to increase oil production by 137,000 bpd in October. The market is stable, and future meetings will monitor conditions for further decisions. Novak emphasized Russia's full compliance.

Russian Deputy Prime Minister Alexander Novak announced Russia's full compliance with its OPEC+ commitments, highlighting the country's dedication to the agreed oil production levels. His statements came on Sunday after an OPEC+ group meeting.

In the meeting, eight members of the OPEC+ coalition agreed to boost oil production by 137,000 barrels per day (bpd) for October, ensuring that the oil market remains stable. Novak remarked on the high level of implementation of the current deal during his appearance on state television.

He further explained that the group has decided to monitor the market situation closely, with regular monthly meetings to potentially adjust future production decisions. Novak reassured that Russia is meeting both its compensation obligations and agreed increased production volumes from previous periods.