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Oil prices jump as Russia slashes output to protest Western sanctions

Por: New York Post Business February 10, 2023

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Oil prices spiked on Friday after Russia said it will slash production output by 5%, or about 500,000 barrels per day, in March in response to Western energy sanctions over the war in Ukraine. West Texas Intermediate crude, the US oil benchmark, rose more than 2% to nearly $79.66 per barrel. Brent crude, the international benchmark, spiked 2% to $86.25 per barrel. “As of today, we are fully selling the entire volume of oil produced, however,... + full article



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