Russia will cut crude oil production by half a million barrels per day starting in March, a little over two months after the world’s major economies imposed a price cap on the country’s seaborne exports. “We will not sell oil to those who directly or indirectly adhere to the principles of the price ceiling,” Russian Deputy Prime Minister Alexander Novak said in a statement. “In relation to this, Russia will voluntarily reduce production by 500,000 barrels per day in March.
group of producers, which includes Saudi Arabia. decided in October to cut output by 2 million barrels per day and has not adjusted that stance since. A potential drop in global oil supply could come at a tricky time. China’s swift reopening of its economy in December after almost three years of strict coronavirus restrictions has pushed up estimates for global oil demand. Last month, the International Energy Agency said it expected global demand to surge by 1.9 million barrels per day to reach an all-time high of 101.
👇
Seems Gas/ Petrol & Diesel price going to up...
limiting Supply, the next strategy. Low Supply = High Price, fight against the price cap set by the west. We the people again are going to suffer endless price increases.
It's an energy war.
Good move. Western hypocrisy should not be tolerated
Smart move, force Biden to sell off the rest of the SPR and accelerate the path to inevitable US hyperinflation once the SPR is empty
Good move
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Philippines Latest News, Philippines Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
N.J. legal weed: Huge business conference, cannabis networking event set for MarchNJ Cannabis Insider Live is set for March 8 in Newark. Here is info on speakers, topics and tickets.
Source: njdotcom - 🏆 282. / 63 Read more »
Pete Davidson got people to eat breakfast at Taco Bell | CNN BusinessBreakfast at Taco Bell has been saved -- and the chain has Pete Davidson to thank. That breakfast Crunchwrap is super fire tho can’t lie. But no I didn’t not go because of Pete Davidson. It was actually because of PFTCommenter and his glowing review on PardonMyTake or MacrodosingPod buttholeeyes You should hire this loser to replace the Don Limon Loser
Source: CNN - 🏆 4. / 95 Read more »
Nigeria delays plans to replace its banknotes after chaotic scenes at ATMs | CNN BusinessNigeria was forced Wednesday to delay plans to replace its banknotes with a redesigned currency after chaotic scenes at ATMs as millions of people struggled to get their hands on the new cash. Wahala wahala wahala ⛽ 💰. Vote Peter Obi and Datti Then the inability to stand on their plan or deadline will pave a way for vote buying and other electoral bribery.. I'm disappointed at them. elonmusk TikTokTurkey People trapped under the rubble due to the earthquake were contacting Twitter and TikTok for help. Twitter and tik tok were closed because of you. They closed it because you didn't pay your fine. People are dying because of your laziness.TurkeyEarthquake
Source: cnni - 🏆 326. / 59 Read more »
British postal service unveils first stamps featuring King Charles III | CNN BusinessThe first stamps featuring King Charles III were unveiled on Wednesday by the Royal Mail, the British postal service. الدين المسيحي واليهودي اديان شيطانية تشجع على القتل وذلك لانها تعادي الاسلام الذي هو دين الاسلام واي دين ضد الاسلام هو دين شيطاني
Source: cnni - 🏆 326. / 59 Read more »
How Bed Bath & Beyond ended up on the verge of bankruptcy | CNN BusinessBed Bath & Beyond is fighting to stay in business. Here’s how America’s quintessential home furnishings chain veered to the edge of bankruptcy and where it turns next.
Source: CNN - 🏆 4. / 95 Read more »