The reduction of oil production will reach almost 2 million barrels

Сокращение добычи нефти достигнет почти 2 млн баррелей

Countries oil producers signed a historic agreement

The monitoring group will monitor the implementation of agreements.

The global reduction of oil production in OPEC and outside the cartel will reach 1.7 to 1.8 million barrels per day, said Minister of energy of Russia Alexander Novak.

“OPEC confirmed that the agreement between them will be a reduction of 1.2 million bar./day, that will give a total reduction of almost 1.7-1.8 million bar a day,” said the official.

Novak noted that in order to monitor the situation on execution of the agreement, will create a monitoring group of five countries: three countries, OPEC, and two outside the cartel.

As reported Корреспондент.nettoday following the talks in Vienna among OPEC members and countries outside the cartel, an agreement was reached on the reduction of last production at 558 thousand barrels per day.

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