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SZO - Russia's Interest In Oil Production Cuts Is Waning
DB Crude Oil Short ETN
Russia’s interest in reducing its oil production along with OPEC appears to be waning. In 2019, it only abided by the cuts it promised in 2018 in three months, and that was because it had a disruption. Late in the year, it sought and got an allowance for producing condensates since it refused or failed to achieve the agreed-upon cuts voluntarily.
Source: OPEC.
Just a few days ago, Russian energy minister Alexander Novak told Rossiya 24 TV:
As far as the production cuts are concerned, I repeat once again, this is not an indefinite process.