The idea of reducing oil production in Russia in order to further raise prices carries risks and will require calculations, Deputy Finance Minister Alexei Sazanov told Reuters on Friday.
Deputy Prime Minister Alexander Novak told the RBC business channel on Thursday that Russia does not need to reduce oil production in response to the European Union’s embargo.
Novak said earlier that he expects Russia’s annual oil production by 2022 to be around 500 million tonnes, down from 524 million tonnes last year.
Be smart with your money. Get the latest investment ideas delivered directly to your inbox three times a week with the Globe Investor newsletter. Register today.
Add Comment