Russia to Extend Oil Production Cuts Until 2023, Novak Confirms
TL;DR
Russia will extend its 500,000 bpd oil production cut until the end of 2023 as a precautionary measure against further market volatility, according to Deputy Prime Minister Alexander Novak. The announcement comes after Saudi Arabia, Kuwait, Oman, Iraq and the United Arab Emirates also said they would reduce output until the end of the year. Russia is part of OPEC+.
- Novak says Russia to extend 500000 bpd oil production cut until end of year Reuters
- Russia's Oil Output Cut Could Be Undone by Maintenance and Diminished Demand Bloomberg
- Russia, Other OPEC+ Producers Announce Surprise Oil Output Cuts Radio Free Europe / Radio Liberty
- Crude sees surplus as Russia nixes production cut; avoid long positions, go short at Rs 6300/bbl The Financial Express
- Russia Extends Pledged Oil Output Cuts Through 2023, Novak Says Bloomberg
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