February 13, 2018 / 10:14 AM / 2 months ago

Kremlin says Russia remains committed to global oil pact

MOSCOW (Reuters) - Russia remains committed to the global oil production cut deal between OPEC and some non-OPEC nations, Kremlin spokesman Dmitry Peskov told reporters on Tuesday.

OPEC Secretary-General Mohammad Barkindo told CNBC on Tuesday that he has President Vladimir Putin’s word that Russia will not flood the oil markets.

The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday.

Reporting by Polina Nikolskaya; Writing by Katya Golubkova; Editing by David Goodman

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