Russia may extend the deal to reduce oil production - Bloomberg

Bloomberg publication with reference to published information on an unnamed Russian official that the Russian Federation supports the current proposal to extend the terms of the agreement, which limits the amount of oil OPEC members not less than six months.

It is reported that on the background of autumn performance of the Russian manufacturers began to daily produce 300 thousand barrels less, and plan to stick to these volumes before the end of six months.

It is noted that the decline in commercial stocks of positive impact on the situation in this case on the part of individual countries in the overall production growth offset by parties to the agreement and the increase in the size of consumer demand in the oil market.

Earlier, the Russian government reported that the expected growth in world prices due to lower production to the level of $ 60, but failed to reach the initially projected figures.

Recall that the validity of a six-month agreement expires at the end of the month. It involves a total reduction of daily production rates by 1.76 million barrels, of which OPEC members provide two-thirds of the value reduction.