"The decision was made previously to increase production by 400,000 every month, and I underscore every month, until the end of 2022," Russian Energy Minister Alexander Novak said, according to CNBC.
Russia leads the non-member allies to OPEC and is one of the cartel's key decision-making partners.
"The decision was reiterated to maintain current parameters which were decided on earlier," Novak added.
"The idea that ... producers are not going to pump more oil so people can have gasoline to get to and from work ... is not right," U.S. President Joe Biden
said on Sunday at the G20
summit in Italy. Photo by Ettore Ferrari/EPA-EFE
National security adviser Jake Sullivan said at the time that 400,000 barrels per day is "simply not enough."
"The idea that Russia and Saudi Arabia and other major producers are not going to pump more oil so people can have gasoline to get to and from work ... is not right," Biden told reporters early this week at the G20 summit in Rome.