Russia to cut oil output by 500,000 bpd in March
Rexo News Reported: 
Russia will cut oil production by 500,000 barrels per day, or around 5% of output , in March, Deputy Prime Minister Alexander Novak said on Friday, after the West slapped price caps on Russian oil and oil products.
The price of Brent crude rose on the news of the output cut from Russia, the world’s second-largest oil exporter after Saudi Arabia, increasing by more than 2.5% on the day to $86.6 per barrel.
Source: Reuters
