Russia extends oil production cuts
[ad_1]
The Russian authorities decided to extend the voluntary reduction in oil production in the country by 500,000 barrels per day until June 2023, Deputy Prime Minister Alexander Novak, who oversees the fuel and energy complex, told reporters on March 21. According to him, Russia is close to reaching the target level of production cuts and will reach it “in the coming days.”
The Deputy Prime Minister also noted that today the global oil market is “under unprecedented negative pressure from unnatural man-made factors” that create volatility and uncertainty. “These factors include a short-sighted energy agenda by Western countries aimed at depriving traditional energy sectors of investment, imposing illegal restrictions on the free movement of energy goods, and imposing an embargo on the supply of oil and petroleum products,” Novak added.
[ad_2]
Source link
