Russia is ready to cut its oil output by 7% early next year to hit back at the EU-led price cap, Moscow says

Russia is ready to cut its oil output by 7% early next year to hit back at the EU-led price cap, Moscow says

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Russia could cut its oil production levels in response to the G7's crude price cap. REUTERS/Sergei Karpukhin Russia could slash its oil output by up to 700,000 barrels a day, its deputy prime minister said. The US and its allies capped Russian crude prices at $60 a barrel earlier this month. "We…

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