MOSCOW: Russia is fully compliant with its OPEC+ commitments, Russian Deputy Prime Minister Alexander Novak said on Sunday.
Eight OPEC+ members agreed to raise oil production by 137,000 bpd in October, the group said in a statement.
The oil market is balanced, and the deal is being implemented on a very high level, Novak said, speaking on state TV after the group meeting.
“We agreed that we would monitor the market situation. We will have opportunities in the future, also meeting monthly, to make decisions in one or another direction depending on the state of the market”, he added.
“As far as Russia is concerned, we are fulfilling our obligations in full. Both in terms of compensation and in terms of increasing volumes that were agreed in previous periods.”- REUTERS