Russia opposes OPEC recommendations

On Thursday (6), Russia went against the recommendations of the technical committee of the Organization of Petroleum Exporting Countries (OPEC) in reduce oil production again to contain the drop in prices caused by by the coronavirus epidemic.

Sources close to Russian state agency TASS and newspaper “The Wall Street Journal” reported that Moscow opposed the proposal to reduce production by 600,000 barrels per day during a meeting opec member countries and their Russian ally in Vienna.

Saudi Arabia wanted to get from its partners a reduction 800,000 to 1 million barrels per day and proposed a solution to commitment of 600,000 barrels per day. Russia would have asked to extend the negotiations and the meeting that was going to take place in the last few days was eventually postponed.  

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