Commodities

Russia might limit oil production

The Deputy Prime Minister said that there are risks of reducing oil production, but they will be evaluated shortly.

Novak said in February that production in Russia stayed the same in January as in December, around 9.8–9.9M barrels per day. At the beginning of February, it was at the same level.

At the end of last year, he announced that Russia, due to price restrictions on Russia’s oil in the EU and G7 countries, is ready to reduce oil production in early 2023 by five to seven percent, that is, by 500-700 thousand barrels per day. The agency reminds us that western oil sanctions entered into force on December 5, 2022.

The European Union, the G7 countries, and Australia introduced a limit on the price of Russia’s oil for maritime transport of $60 per barrel.

Related Post

Russia threatens America over Nord Stream sabotage

Moscow demands an open international investigation, punishment of the guilty, and compensation after the journalist’s accusation that the America-Norway tandem blew up the Russian-Western European gas pipeline last year.

“Last June, U.S. Marine divers from the base in Panama City, Florida placed ultra-sophisticated C-4 explosives on the Nord Stream 1 and Nord Stream 2 gas pipelines during NATO’s BALTOPS 2022 naval exercise. C-4 normally releases ultra-low-frequency signals, something like the sound of a harp, experts say. Three months later, Norwegian P-8 surveillance aircraft, in an routine flight, dropped special sonar buoys on the open sea near the previously planted explosives, which, floating in the Baltic, recognized the “music” of the explosives and… ‘Bam!'”.

With these words, Seymour Hersh (85), doyen of American investigative journalism and winner of the “Pulitzer” prize in 1970, after exposing American war crimes in Vietnam in the middle of the 20th century, described last Wednesday on his blog the execution of sabotage of two Russian-Western European gas pipelines, allegedly, on the direct order of US President Joseph Biden. Hersh’s text “How America ‘taken down’ Nord Stream 2” refers to only one unnamed source, “in detail with the course of the nine-month secret preparations for that action” by a select, small group of officials from the top of the American government.

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