3 December 2016, 09:59 GMT
MOSCOW (Sputnik) — Russian President Vladimir Putin personally made the decision to cut Russia's oil production, Kremlin spokesman Dmitry Peskov said Wednesday.
"The president had personal contacts and the decision was made personally by the president on the basis of the consensus reached with the heads of those oil companies," Peskov said.
The Organization of the Petroleum Exporting Countries (OPEC) agreed November 30 to cut crude oil output by 1.2 million barrels per day to 32.5 million barrels per day from January 2017. Non-OPEC countries will reduce their production by 600,000 barrels per day, with Russia agreeing to cut its oil output by 300,000 barrels per day.
