17:24 - 3.07.2023

---

July 3, Fineko/abc.az. In addition to the already announced volumes of oil production cuts, Russia will reduce its supplies by 500,000 b/d, ABC.AZ reports, quoting the representative of Deputy Prime Minister Alexander Novak.

Prior to that, Novak said that Russia decided in August 2023 to voluntarily reduce oil supplies by 500,000 b/d.

"As part of efforts to ensure market balance, Russia will voluntarily reduce supplies to oil markets by 500,000 b/d in August by reducing exports by a designated amount," he noted.