Get 40% Off
🚨 Markets Are Down. Unlock Undervalued StocksFind Stocks Now

Russia says cutting oil production would have risks, require calculation

Published 06/17/2022, 07:24 AM
Updated 06/17/2022, 07:25 AM
© Reuters.

(Reuters) - The idea of cutting oil production in Russia to further increase prices has risks and would require calculation, Deputy Finance Minister Alexei Sazanov told Reuters on Friday.

Deputy Prime Minister Alexander Novak told RBC business channel on Thursday that Russia had no need to cut its oil output in response to the European Union's embargo.

Novak earlier said he expected Russia's annual oil production for 2022 would be about 500 million tonnes, down from 524 million tonnes last year.

Latest comments

word traders United !! sell crude oil and save ourselves from inflations
Iraq, Libya, Yemen, Syria, Afghanistan, who made them chaos country ? Russia or US ?
Iraq, Libya, Yemen, Syria, Afghanistan, who made them chaos country ? Russia or US ?
Iraq, Libya, Yemen, Syria, Afghanistan, who made them chaos country ? Russia or US ?
Don't read and try to understand ANYTHING that comes out of the mouth of a communist. All they say is to confuse the listener. It's all propaganda and designed to brainwash you. Communist words are not worth the paper/media they are written on. Case closed.
Russia is an evil empire, just like its predecessor Soviet Union.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.