03.02.2025 21:01
Russian Deputy Prime Minister Alexander Novak stated that they find the U.S. call for OPEC to lower oil prices "unacceptable." Speaking at the OPEC+ meeting, Novak noted that the voluntary production cuts agreed upon in 2023 will be gradually reduced.
```html
Russian Deputy Prime Minister Alexander Novak stated that they find the United States' call to the Organization of the Petroleum Exporting Countries (OPEC) to lower oil prices "unacceptable."
Novak made statements to the Russian state channel Rossiya-24 during the OPEC+ meeting held today, which includes OPEC and some oil producers, including Russia.
Indicating that they will continue to monitor the situation in the oil markets on a monthly basis, Novak said, "According to the gradual increase schedule that will start on April 1, we will reduce the voluntary production cuts accepted in 2023 for 1.5 years."
"UNACCEPTABLE"
Novak explained that the new administration in the United States has created new challenges in the oil markets, stating, "They called on OPEC to lower oil prices in a way that would not be competitive and to increase market share." Emphasizing that OPEC+ members are fully committed to the agreements reached within the organization, Novak stated, "Artificial and unfair attempts to interfere in the functioning of the global oil market are categorically unacceptable."
WHAT HAPPENED?
Last week, U.S. President Donald Trump requested Saudi Arabia and OPEC members to lower oil prices.
```