January 28, 2019

Saudi Arabia's energy minister is hoping Russia will pull its weight on recently agreed to OPEC oil production cuts despite its slow start, expressing confidence Monday that the world's second-largest exporter would come through.

"We're committed both to the agreement in December. ... All indications so far so good, the Russians have promised me that they will pick up the pace," Energy Minister Khalid al-Falih told CNBC's Hadley Gamble in Riyadh on Monday.

OPEC members, along with several other countries, in December agreed on output cuts totaling 1.2 million barrels per day (bpd) in order to stem a sinking market and support their own export-dependent economies. "OPEC plus" refers to the group's cooperation with the non-OPEC producers like Russia and other former Soviet states.

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https://www.cnbc.com/2019/01/28/saudi-energy-minister-russians-promised-to-speed-up-opec-cuts.html