The strategy involves removing parts and products made in hostile foreign countries, like China and Russia, from energy infrastructure and replacing them with local substitutes.

Iraq will stick to its quota in June and July and will make further reductions later on

OPEC+ agreed the option of extending the first phase of the production adjustments pertaining in May and June by one further month.

Ожидаемый объем недополученных нефтегазовых доходов федерального бюджета прогнозируется в июне 2020 года в размере - 145,5 млрд руб.

A delegate-level OPEC+ technical committee, co-chaired by Saudi Arabia and Russia, is scheduled to meet June 5 to discuss market conditions and review compliance.

Many politicians and energy companies in Germany support Nord Stream 2

"The presidents addressed world oil market developments in the context of implementing the OPEC+ agreement," the Kremlin said. "It was stated that this multilateral agreement, reached with the active support of the presidents of Russia and the United States, would lead to a gradual restoration of oil demand and price stabilisation."

Russian oil and gas condensate production fell to 39.7 million tonnes (9.39 million barrels per day) in May

Russian President Vladimir Putin discussed the oil market with Saudi Arabia's Crown Prince Mohammed bin Salman on Wednesday

Russian coal exports may fall by 10 to 22% in 2020