Novak announces expected level of oil production cuts

In May and June, Russia plans to maintain a level of the oil production cuts at 300 000 barrels per day relatively to the October levels, the head of the Ministry of Energy of the Russian Federation, Alexander Novak said.

"We reduced our production by 300 000 by the end of April, we will keep this level in May and June. If the decision to extend the agreement is made, it is likely that the parameters will not change to make it easier, "RIA Novosti quotes the minister as saying.