Russia Reiterates Plan to Curb Oil Exports Through December
- Novak says 300,000 b/d export reduction maintained in October
- Extra cuts from Russia, Saudis have driven a rally in crude
Russia will review its oil supplies again next month.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia will maintain its 300,000 barrel-a-day cut in crude exports this month and reaffirmed plans to keep them curbed through the end of the year.
The “voluntary cut comes to reinforce the precautionary efforts made by OPEC+ countries with the aim of supporting the stability and balance of oil markets,” Deputy Prime Minister Alexander Novak said in a statement on Wednesday.