View full page at energyexch.com

 

Russia to Stick With Voluntary Oil Export Cuts Until Year-End

From bnnbloomberg.ca

Russia will stick to its voluntary oil exports cuts through 2023 in a move to balance the oil market, according to Deputy Prime Minister Alexander Novak. The nation will continue with a policy of curbing overseas supplies of crude and oil products by 300,000 barrels a day until the end of December, Novak said in a statement on Sunday. Moscow’s statement about its commitment to cuts, which it had pledged to enact together with its OPEC+ ally Saudi Arabia, comes as Russia’s oil flows exceeded the targeted level. The alliance is set to gather later this month to discuss the policy. The voluntary cut “comes to reinforce ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis