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Russia is looking to Modernize OPEC to Change Oil Production Calculation Method

Russia is looking to Modernize OPEC to Change Oil Production Calculation Method

The Russian OPEC sources have indicated that Russia will call on other oil producers to change Moscow’s production calculation. Point to be noted that most of the major oil-producing countries are expected to meet in Vienna next month. OPEC and other oil-producing countries have been curbing oil production for 3-years to balance the market and boost oil prices. But, Russia measures its output differently. Russia introduces condensate a light and high-quality type of crude oil often extracted during gas production…

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