Other oil producers will cut 5 million b/d on top of OPEC+ cut of 10 million b/d: Novak

Moscow — Russian energy minister Alexander Novak said Friday that OPEC+ expects producers outside the group to cut another 5 million b/d of crude production in May and June, in an interview broadcast on the Russia 24 TV channel.

"We think that in addition to the 10 million b/d that OPEC+ will cut there will be another 5 million b/d cut by countries that are not included in OPEC+, so in total the cut in May and June will be 15 million b/d," Novak said.

He added that Russian producers were ready to meet Russia's portion of the cut.

"Our companies are ready. We are in constant contact with them. We think that they can carry out the technical and technological tasks to meet the commitments Russia has taken on," Novak said.