(Adds detail, quote)
MOSCOW, May 4 (Reuters) - Deputy Prime Minister
Alexander Novak said on Thursday Russia was abiding by its
voluntary pledge to cut oil output by 500,000 barrels per day
(bpd) from February until the end of the year.
Russia is part of the OPEC+ group of oil-producing countries
that announced a combined reduction of more than 1 million bpd
in April, a surprise decision the United States described as
unwise.
"Taking into account the unfounded speculation in the press
regarding oil production levels, Russia reaffirms its full
commitment to and implementation of voluntary oil production cut
levels," Novak said in a statement.
"The target level of voluntary production cuts is 500,000
bpd from the February level until the end of 2023. Monitoring
will be carried out according to independent sources."
He also said a two-thirds reduction in Russia's oil pipeline
exports to the European Union was only partially compensated by
sea-borne exports.
(Reporting by Vladimir Soldatkin; Editing by Susan Fenton and
Mark Potter)
@vsoldatkin;))
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