Oil prices rebound as Russia announces it may start cutting its crude oil exports

Oil prices rose and headed for a second weekly gain as Russia said it may trim crude oil production in response to the Group of Seven’s price cap on its exports, highlighting risks to global supplies in the new year.

est Texas Intermediate surged to more than $79 a barrel, putting it on track for about a 7 percent gain for the week. Russia could cut production by 500,000 to 700,000 barrels a day in response to the cap, Deputy Prime Minister Alexander Novak was quoted as saying by the state news service Tass.

https://www.independent.ie/business/world/oil-price-rallies-as-russia-says-it-could-start-to-cut-its-crude-exports-42241822.html Oil prices rebound as Russia announces it may start cutting its crude oil exports

Fry Electronics Team

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