Russia can boost oil production, OPEC+ has postponed JMMC meeting: Novak
Russia can increase oil production by 400,000 barrels per day per month until May 2022 as part of the OPEC+ agreement, said the Russian Deputy Prime Minister Alexander Novak on the sidelines of the Russian-Chinese Energy Business forum.
"I do not see any problem with it. All our companies confirm that they are ready to return to the volumes that were before the reduction. If we keep on increasing production by 400,000 barrels, then by May we will reach the level that was before the reduction," he was quoted by Russian news agency TASS.
Reuters quoted Novak saying that OPEC+ has postponed its Joint Ministerial Monitoring Committee (JMMC) meeting in order to assess the new Omicron strain of COVID-19.
JMMC meeting was schedule to take place on the 30th of November but now it has been moved to December 2nd which is on the same day of the OPEC+ meeting.
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