Moscow confirms that its oil production is in line with the agreement of OPEC

MOSCOW (Reuters) – Russia's oil production in July is in line with an OPEC agreement, according to data from the Russian Ministry of Energy released on Saturday, adding that Moscow planned to abide by the agreements. August.
Russian production in July fell 290,000 bpd compared to October 2018, the reference date in the agreement between OPEC and its allies on supply reduction, the agency reported. Reuters.
Oil prices rose nearly 3% on Friday, a day after recording their biggest drop in a few years, with US President Donald Trump threatening that the US will impose more tariffs on Chinese products.
The Brent for October delivery ended up at $ 1.89, or 2.3%, at $ 61.89 a barrel.
Global benchmark crude fell by more than 7% during Thursday's session, its largest decline in a day in more than three years.
The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers have been agreeing since January 1 to reduce their production by 1.2 million barrels per day in order to support their prices .
OPEC said in a monthly report released on Thursday that global oil demand would grow by 1.14 million barrels a day this year, less than 700,000 barrels a day compared to previous forecasts.