Kremlin: OPEC+ decision to reduce oil production aims to ‎market stabilization ‎

A Kremlin spokesman said today, Thursday that the decision of the OPEC + group of major oil producers to reduce production by two million barrels per day aims to stabilize the market.

According to “Reuters”, spokesman Dmitry Peskov said that by agreeing to cut production, OPEC + confirmed its credibility as an organization responsible for market stability.

OPEC+, led by Saudi Arabia, at a meeting in Vienna on Wednesday ignored pleas from the White House to keep oil flowing and agreed to the cut, the largest since the 2020 coronavirus pandemic.