Non-OPEC countries agree to cut oil production By 612,000 BPD

  11 December 2016    Read: 1200
Non-OPEC countries agree to cut oil production By 612,000 BPD
Russia agreed to cut oil production by 300,000 barrels per day, Mexico - by 100,000 barrels per day and Kazakhstan - by 50,000 barrels per day, according to the Nigerian Ministry of Petroleum Resources.
Non-OPEC countries have agreed to cut oil production by 612,000 barrels per day at a meeting in the Austrian capital of Vienna, the Nigerian Ministry of Petroleum Resources said on Saturday. "We are glad to report that the OPEC and non-OPEC Ministerial Meeting yielded positive results. #OOTT," the ministry said on Twitter.

According to the ministry`s Twitter account, Russia agreed to cut oil production by 300,000 barrels per day, Mexico — by 100,000 barrels per day and Kazakhstan — by 50,000 barrels per day.

The meeting of non-OPEC countries took place in Vienna earlier in the day, after OPEC countries agreed to cut oil production by 1.2 million barrels per day on November 30.

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