Several oil-producing countries announced on April 2 that they would voluntarily cut crude oil production from May until the end of 2023.
Saudi Arabia announced that it would voluntarily cut crude oil production by 500,
000 barrels per day from May to the end of 2023; the United Arab Emirates announced that it would cut 144,000 barrels; Kuwait announced that it would cut 128,000 barrels; Iraq announced that it would cut 211,000 barrels; 48,000 barrels; Kazakhstan announced it would cut 78,000 barrels; Oman announced it would cut 40,000 barrels.
In addition, Russian Deputy Prime Minister Novak stated on April 2 that Russia voluntarily extended the measures to reduce oil production by 500,000 barrels per day until the end of 2023 based on the average production level in February. Earlier, Novak had said that Russia voluntarily cut oil production by 500,000 barrels per day from early March to the end of June.