Reuters reports, citing Russian energy sources
- Says Russia ready to cut oil output by around 200k bpd if OPEC offers to cut more than 1 million bpd
Looking at this, it looks like Russia is willing to only commit to about a 150k bpd production cut - which is the minimum we're expecting. If OPEC wants them to offer more than that, they will also have to table further cuts themselves.
And for OPEC to do so, I reckon they'd rather it involve Iran as well so as for other nations not to carry such a large burden from the cuts. However, Iran is continuing to insist that they should get exemptions because of sanctions by the US.
