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    Home » ‘Russia does not object to OPEC+ adjusting oil baseline’

    ‘Russia does not object to OPEC+ adjusting oil baseline’

    June 16, 2023
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    The logo of the Organization of Petroleum Exporting Countries (OPEC) is attached to the organization’s headquarters in Vienna, Austria, 03 December 2018.  EPA-EFE/CHRISTIAN BRUNA

    Vienna — Russia does not object to OPEC+ revising its oil production baseline, Deputy Energy Minister Pavel Sorokin said on Thursday, according to the RIA news agency.

    OPEC+ on Tuesday said it granted Russia a slightly higher oil production baseline after the country agreed to work with several think-tanks and agencies to review its output figures.

    A higher baseline means Russia can produce more under the latest quotas than previously agreed.

    *Hugh Lawson – Reuters

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