Russia cuts oil output in June by 305,000-308,000 bpd in comparison to October

MOSCOW. June 28 (Interfax) – Russia has cut oil output in June by 305,000-308,000 barrels per day (bpd) in comparison to October levels, exceeding its OPEC commitments by around 2%, Russian Energy Minister Alexander Novak told journalists.He added that Russia was not currently discussing making additional oil cuts. “At the moment the issue of [making more oil cuts] is not being discussed. At the July meeting [of the ministerial committee for monitoring the fulfillment of the OPEC+ agreement] we will discuss the situation on the market in whole,” he said.