The proposal for oil cuts preceded Trump’s tweets



Russia's drive to increase oil production came independently, the country's oil minister said on Saturday during the OPEC summit in Vienna, discarding the suggestion that public pressure from the United States played an important role. role in your decision.

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When asked if the president asked OPEC to keep prices in mind for the country's move, Alexander Novak told CNBC's Steve Sedgwick that "the United States is just another consumer, like the rest of consumers, and when we make decisions, we take into account the interests of consumers, not just those of producers. "

The minister added: "I would like to emphasize that our offer to increase production volumes in June was made long before the appearance of certain tweets, I would like to point out that Russia had proposed to reduce quotas at the end of last year. , and we began to discuss in detail in February of this year. "

The comments followed the news that members of OPEC and non-OPEC countries, including Russia, have reached a compliance agreement to raise oil production by one million barrels per day (bpd) to balance supply and demand in the second half of 2018.

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