Russia will continue to reduce oil production until the end of the year
[Fotoğraf: Reuters Arşiv]
Russian Deputy Prime Minister Aleksandr Novak, in his written statement, emphasized that there are high volatility and unpredictable processes in the oil market due to the banking crisis in the USA and Europe and the wrong steps taken in the energy field in the world.
Stating that Russia has decided to cut oil production as a preventive step, Novak said, „We will reduce our oil production by 500 thousand barrels per day until the end of the year compared to our February production volume.“
Novak, in a statement on February 10, said that Russia will reduce oil production by 500,000 barrels per day in March.
In December 2022, European Union countries agreed on a ceiling price of 60 dollars per barrel for oil transported by sea from Russia.
A ceiling price of $100 per barrel was imposed on Russian diesel and kerosene, and $45 per barrel on cheaper liquid fuels and light-colored petroleum products.
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Russian Deputy Prime Minister Aleksandr Novak announced that Russia will cut its oil production by 500 thousand barrels per day until the end of 2022 as a preventive measure against the high volatility and unpredictable processes in the oil market due to the banking crisis in the USA and Europe, as well as the wrong steps taken in the energy field globally. This decision comes after Russia announced a similar reduction in oil production of 500,000 barrels per day in March 2022. The European Union has also agreed to impose a ceiling price of $60 per barrel for oil transported by sea from Russia, as well as imposing varying ceiling prices on other petroleum products.
