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Dep PM-We Don't Expect Drop In Oil Production In Dec

RUSSIA

Russia's Interfax carrying comments from Deputy PM Alexander Novak, states that the gov't does not believe the EU's oil price cap will affect Russian oil production in December.

  • Novak: 'We think that Russian oil will be in demand, though there are uncertainties'.
  • Earlier, Kremlin spox Dmitri Peskov refused to comment on the EU oil price cap.
  • The bullish comments come despite the imminent imposition of sanctions on the import of Russian crude by the EU, coming into force on 5 Dec. A flurry of activity in shipping ahead of the deadline has seen costs escalate notably (see: https://marketnews.com/shipping-costs-for-russian-...)

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