Russia will slash crude exports from western ports by one-quarter in March and April, expanding the 500,000 barrel-per-day cuts it announced for next month in apparent retaliation for Western sanctions, Reuters reports. Citing three sources in the Russian oil market, Reuters says that the plan to cut exports by up to one-quarter from Western ports goes beyond the 500,000 bpd production cut planned for March.
There is no confirmation of the reported 25% cut in exports from Western ports from Russian authorities, nor has Russia’s pipeline…Russia May Be Expanding Oil Output Cuts
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