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Russia Extends Oil Output Cut, Budget Received $32bln in Revenue Last Month

RUSSIA
  • Russia has decided to keep its oil production at a reduced level through 2023 amid high volatility in the global market, said Deputy Prime Minister Novak. The cuts of 500,000 barrels a day will be implemented from “the average production level as assessed by secondary sources” for February, according to Novak.
  • The Russian budget received more than $32 billion in revenue last month, Anton Siluanov, the country’s finance minister, said in an interview. “We see that there is a slight decrease in oil and gas revenues because the price parameters for energy resources are somewhat different from what is budgeted,” Siluanov said. “But I’m sure that we will fulfill all obligations, there is no doubt about that.”
  • An explosion at a cafe in St. Petersburg has killed Vladlen Tatarsky, a military blogger who supported the war in Ukraine, Bloomberg report. Tatarsky strong pro-war stance included goals such as complete destruction of the Ukrainian state. The explosion also injured 25 people, Alexander Beglov, the governor of St. Petersburg, said in a Telegram post.
  • Alexander Novak will take part in an online meeting of the OPEC+ Joint Ministerial Monitoring Committee. Deputy foreign ministers of Russia, Turkey, Iran and Syria will hold consultations in Moscow, according to Tass.
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