The decision by the Opec-plus group on Aug. 3 to increase production next month by a combined symbolic 100,000 barrels per day in September suits Russia well. Moscow is not interested in a significant growth of oil flows on the global market as it would like to see prices stay high, allowing Russia to keep offering steep discounts for its export volumes. According to the Russian finance ministry, prices for Urals crude export blend averaged $78.41 per barrel in July. Russian Deputy Prime Minister Alexander Novak said that despite a recovery in demand, the "cautious decision" by Opec-plus was due to market ... (full story)