Russia will continue the additional voluntary supply cut of 300,000 barrels per day from its crude oil and petroleum product exports until the end of December 2023 as previously announced, Deputy Prime Minister Aleksandr Novak said on November 5. "The additional voluntary cut is intended to strengthen the measures taken by OPEC+ countries to maintain the stability and balance of oil markets," Novak said. He said Russia will consider next month whether to deepen its voluntary export cuts or increase production. Saudi Arabia will continue with its voluntary output cut of 1 million bpd until the end of December, an official at the Energy Ministry said on November 5.
