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Oil in focus as Russia cuts supplies

Oil in focus as Russia cuts supplies

Crude oil prices are up more than 2% today after Russia said it planned to reduce crude production by 500K bpd in March.

As of today, we are fully selling the entire volume of oil produced, however, as stated earlier, we will not sell oil to those who directly or indirectly adhere to the principles of the 'price cap'," Novak said in a statement. "In this regard, Russia will voluntarily reduce production by 500,000 barrels per day in March. This will contribute to the restoration of... Read More

Posted: Feb 10 2023, 13:13
Author Name: forexlive
Views: 082329

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