Russia’s Aging Infrastructure Threatens Oil Output Pact - News Summed Up

Russia’s Aging Infrastructure Threatens Oil Output Pact


MOSCOW—Russia’s adherence to a hard-fought oil production deal with Saudi Arabia and the U.S. could be imperiled by its aging industrial infrastructure and the unique challenges of winding down a broad network of wells across its vast landmass. Moscow, Riyadh and Washington agreed in early April to lead a multinational coalition that aims to cut 13% of global oil production through the end of June. The curbs are meant to address a sharp drop in demand caused by global travel restrictions and business shutdowns to prevent the...


Source: Wall Street Journal April 29, 2020 15:16 UTC



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