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Russian Production Cuts Aimed at Tightening Discounts: Novak

OIL

Russian oil production cuts of 500,000 bpd from March until the end of June are aimed at reducing the discount on it’s exports according to Deputy Prime Minister Alexander Novak in an interview with Rossiya 24 TV channel.

  • The discounts on Russian oil have been the key driver allowing its flows to develop higher market share in Asian markets post sanctions.

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