The announcement of a sharp oil cut is planned during the next OPEC+ meeting. This is reported by the Financial Times.
"The volume of the reduction has yet to be agreed upon, but Saudi Arabia and Russia are pushing for a reduction of 1-2 million bpd or more," the article said.
According to experts, this move by Moscow and Riyadh is very likely to cause countermeasures by the United States, among which would be the additional release of oil from the country's strategic reserve.
The newspaper's interlocutors claim that Russian Deputy Prime Minister Alexander Novak will attend the upcoming event. Presumably, he will support the initiative of a serious reduction in production, because "Russian oil is already being sold at a big discount".