Russia has cut oil production – Kremlin

Russia’s Kremlin spokesperson Dmitry Peskov informed markets that the nation has started cutting oil output in accordance with its agreement with OPEC.

“Without question Russia is carrying out all the points of the agreement and all the obligations that it took upon itself”, Peskov said.

Russian media reported yesterday on Tuesday that 100,000 barrels have been taken out of daily production as per the deal with OPEC.