Russia Not Intending to Sell Oil at Any Price Just for Sake of Volume: Energy Ministry
© Sputnik / Maksim BogodvidOil rig
© Sputnik / Maksim Bogodvid/
MOSCOW (Sputnik) - Russia does not intend to sell oil at any price just for the sake of volume, this principle is laid down in the reduction of the country's production in March, first deputy Russian Energy Minitser Pavel Sorokin said on Wednesday.
"It is important to understand the principles that are embedded in this reduction. They were very clearly outlined by the president, and Alexander Novak — there is no task to sell oil at any price, just to sell for the sake of volume," Sorokin said on the sidelines of the Valdai Discussion Club in Russia.
In February, Russian Deputy Prime Minister Alexander Novak said that Russia will voluntarily reduce crude oil production by 500,000 barrels per day in March in order to contribute to the restoration of market relations.