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Russia cuts oil production by 5 percent, prices climb

Por: The Hill World February 12, 2023

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Russia plans to cut its oil production by about 5 percent next month in response to sanctions it has received from Western countries over the war in Ukraine, which is sending prices higher.  The state-run Russian media outlet TASS that the country will reduce its output by 500,000 barrels per day.  The Wall Street Journal that gas prices rose after Novak announced the change, and the international benchmark for oil prices, Brent crude, rose... + full article



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