Natural Reduction in US Oil Production Cannot be Counted as OPEC+ Cut, Says Kremlin
AP Photo/Gary Kazanjian, File
Natural reduction in US oil output cannot be counted as cuts aimed at stabilizing the markets, Kremlin Spokesman Dmitry Peskov said on Wednesday, TASS reports.
"Those are various cuts. You compare the total demand contraction with cuts for stabilizing global markets, which means comparing apples and oranges," he said when asked whether Russia might be satisfied with natural reduction in US oil production, which is inevitable amid the falling demand and low price.
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