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Russia says cutting oil production would have risks, require calculation

Commodities Jun 17, 2022 07:25AM ET

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Russia says cutting oil production would have risks, require calculation

© 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.

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Comments (6)

Francis Lim Wei Jun 17, 2022 10:38AM ET

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word traders United !! sell crude oil and save ourselves from inflations

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Andre Andre Jun 17, 2022 9:28AM ET

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Iraq, Libya, Yemen, Syria, Afghanistan, who made them chaos country ? Russia or US ?

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Andre Andre Jun 17, 2022 9:28AM ET

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Iraq, Libya, Yemen, Syria, Afghanistan, who made them chaos country ? Russia or US ?

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Andre Andre Jun 17, 2022 9:28AM ET

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Iraq, Libya, Yemen, Syria, Afghanistan, who made them chaos country ? Russia or US ?

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Chris Sundo Jun 17, 2022 7:43AM ET

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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.

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Peter Galik Jun 17, 2022 7:34AM ET

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Russia is an evil empire, just like its predecessor Soviet Union.

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