No decision made by Russia on extending oil output cut: Kremlin

Updated 2017-05-05 11:30:31 Xinhua

Russia has not yet decided to extend the Vienna agreement on oil output reduction into the second half of 2017, the Kremlin said Thursday.

"No decisions have been made yet. If the position is formulated, we will inform you," Kremlin spokesman Dmitry Peskov told reporters.

Last month, the Russian Energy Ministry said it will soon begin talking with domestic oil companies about the option to extend oil production cuts.

To shore up weak oil prices, the Organization of the Petroleum Exporting Countries (OPEC) and 11 non-OPEC states, including Russia, agreed during a meeting in Vienna in November 2016 to trim oil production by a total of 1.8 million barrels per day (bpd) for the first half of 2017.

Under the deal, Russia pledged to reduce oil output by up to 300,000 barrels per day.

The energy ministry said Wednesday that Russia's average oil production in April has decreased by 258,600 bpd to reach 300,790 bpd as of May 1.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 23 2017 06:23:30

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 23 2017 06:23:30

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 23 2017 06:23:30

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords