OREANDA-NEWS OPEC+ countries, which voluntarily reduce oil production in the first quarter, decided on Sunday to extend restrictions for the second quarter, Bloomberg reports, citing sources among the delegates.

Thus, additional reductions, estimated at 1.7 million b/d, will remain in force until the end of June. Another 0.5 million bpd is a decrease in oil exports to world markets from Russia.

A number of OPEC+ countries are voluntarily reducing their production by 1.66 million b/d by the end of 2024: 500 thousand b/d each accounted for the leaders of the deal - Russia and Saudi Arabia. In total, they took part in the voluntary reduction: Kazakhstan (78 thousand b/d), Oman (40 thousand b/d), the United Arab Emirates (144 thousand b/d), Kuwait (128 thousand b/d), Iraq (211 thousand b/d), Algeria (48 thousand b/d).