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Russia Deputy PM Does Not Rule Out USD150/bbl 'And Higher' By Year-End

OIL

Russian state-run Interfax reporting comments from Russian Deputy PM Alexander Novak stating that he does not rule out oil at USD150/bbl 'and higher' by-year end. Says Russia's oil output seen at around 500m tons in 2022.

  • Novak: 'We will have to set up additional infrastructure for energy supplies to the East.'
  • Novak: 'We have free port capacity.'

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