Russia Extends Pledged Oil Output Cuts Through 2023, Novak Says
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Russia has decided to keep its oil production at a reduced level through 2023 amid high volatility in the global market, said Deputy Prime Minister Alexander Novak.
Russia had previously pledged to cut its crude-only output by 500,000 barrels per day in March in response to Western sanctions, including price caps on its oil and petroleum production, and to keep those curbs in place through June.