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Free AccessRussian Dep PM: Russia May Cut Oil Production In Response To Oil Price Cap
According to Reuters, Russian Deputy Prime Minister Alexander Novak has claimed that, "Moscow remains reliable supplier but will not ship oil/oil products setting price cap."
- Novak also says Russia may also cut oil production if an agreement is reached to enact a US-led price cap on Russian oil.
- Novak's comments come after an eventful day on oil markets as rumours of a OPEC production hike drove Brent and WTI crude to lows not seen since January.
- Saudi officials have since denied reports and oil prices have clawed back losses.
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.