Russia will achieve by late April the 300,000 b/d cut it agreed to in the coordinated supply cut agreement reached with OPEC and 11 non-OPEC countries last year, Russian energy minister Alexander Novak told reporters Monday at IHS CERAWeek. Novak said Russia is currently meeting 50% of its supply cut commitment and will likely have cut 200,000 b/d by the end of March. Related IHS CERAWeek story: IEA chief says global oil demand ‘not peaking’ Under the deal, OPEC in November agreed to cut 1.2 million b/d from its October levels while 11 non-OPEC countries led by Russia agreed to cut an additional 558,000 b/d. Novak said it remains unclear if the supply cut deal will be extended beyond June, a decision he said likely will not be made until shortly before the current deal is set to expire. Article continues below… Oilgram News brings you fast-breaking global petroleum […]