Moscow — Russia will cut its liquids output by 50,000-60,000 b/d in January under the latest agreement with OPEC, energy minister Alexander Novak said Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “The monthly schedule for the output cut has already been [set]… We expect output will be cut by at least 50,000 b/d-60,000 b/d in January,” he said, as reported by Prime news agency. The report did not elaborate on the plan for subsequent months, which will see Russia eventually reduce output by 228,000 b/d. Novak also said that the group of oil producing countries maintains its target to keep global stocks at around the five-year average under the new deal, agreed last week in Vienna. Last Friday, OPEC and 10 non-OPEC countries led by Russia agreed to reduce combined output by 1.2 million b/d , with the new six-month deal effective from […]