Russia will cut oil production amid sanctions imposed by Western countries
Author:
Anastasiia Kondrat
Starting in March, the Russian Federation will produce 500,000 barrels per day.
Bloomberg writes about it.
The publication writes that the reduction in Russia is equivalent to approximately 5% of its January production. The Kremlin has repeatedly hinted at such a move since the European Union and the G7 began discussing price caps on Russian crude oil and petroleum products exports amid the war in Ukraine.
Photo: Bloomberg
