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Russian Crude Output at 9.7m b/d March: Novak


Russia will reduce crude oil output to 9.7m b/d in March, down 500k b/d from February according to reports from Tass citing Deputy Prime Minister Alexander Novak.

  • February output was 10.2m b/d. The production cuts are expected to run until the end of June which helped to support crude markets this week.
  • Russia hasn’t received new proposals from OPEC+ partners to adjust the group’s current output deal Novak said.

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