Russia Ready To Boost Production As Soon As OPEC+ Deal Ends

Russia’s government approved on Tuesday a plan to have new oil wells drilled this year and next for 2022 production, the office of First Deputy Prime Minister Andrey Belousov said in a statement. A Russian government commission backs the proposals of the energy and finance ministries to create a ‘fund of uncompleted wells’ with the oil firms with the purpose of supporting the oilfield services sector, the Russian government said. The global oil demand drop and the subsequent decision to curtail production is reducing orders for…