Moscow could cut oil production by up to seven percent in early 2023 following an oil price cap agreed by Western countries, a Russian deputy prime minister said Friday. "At the start of next year, we could make a reduction of 500,000-700,000 barrels per day. For us, that's around 5-7 percent," Alexander Novak, who is in charge of Moscow's energy policy, said according to Russian news agencies. He said Russia will not supply oil to countries that are enforcing a price cap - a part of punitive measures on Moscow following its offensive in Ukraine. The price ceiling of $60 per barrel agreed by the European Union, G7 and Australia came into force in early December and se
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