Russia to cut oil production in response to Western sanctions ...News

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Russia to cut oil production in response to Western sanctions
Output will be reduced by 500,000 barrels per day in March Russia will voluntarily reduce oil production in March by 500,000 barrels per day as it halts sales to buyers complying with a Western-imposed price cap, Russian Deputy Prime Minister Aleksandr Novak announced on Friday. Novak said the move should help restore market relations shattered by the price ceiling, which he branded “illegal.” “Russia believes that the mechanism of price caps on Russian oil and petroleum products is an intervention in market relations and an extension of destructive energy policies of the collective West,” the deputy PM said in a

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