Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Russian agency: Russia will conduct a nuclear test if the US does
Al-Nakhalah: We are the rightful owners, and we must fight to retrieve our rights
Al-Nakhalah: The enemy and its allies must know that we can never surrender to their terms and diktats after all the sacrifices made
Al-Nakhalah: The prisoner exchange clause can be completed in the next few days, and thus we will have pulled the [explosion] fuse and removed the enemy's justifications for aggression
Al-Nakhalah: The Resistance has expressed its willingness to negotiate on the basis that there are items that can be dealt with positively, the first of which is the prisoner exchange item
Al-Nakhalah: Trump's plan entails the Palestinian people's declaration of complete surrender to the enemy
PIJ Secretary-General, Ziyad al-Nakhalah, in an address aired on Al Mayadeen: The Resistance is engaging in a fierce negotiating battle under the so-called Trump plan
Russian Federation Council approves joint military cooperation agreement with Cuba
Al-Nunu: Today, the lists of prisoners required to be released, the agreed-upon criteria and numbers, were exchanged
Al-Nunu from Sharm el-Sheikh: Negotiations focused on mechanisms for implementing an end to the war, the withdrawal of occupation forces from the Gaza Strip, and the exchange of prisoners

Russia to evaluate reducing oil production due to price cap: Deputy PM

  • By Al Mayadeen English
  • Source: Agencies
  • 10 Feb 2023 12:58
  • 1 Shares
2 Min Read

The Russian Deputy PM says Russia will voluntarily reduce oil production by 500,000 bpd in March to contribute to the restoration of market relations.

  • x
  • Russia to evaluate reducing oil production due to price cap: Deputy PM
    Russian Deputy Prime Minister Alexander Novak (TASS)

Russian Deputy Prime Minister Alexander Novak pointed out on Friday that the risk of a reduction in oil production in Russia due to a price cap on Russian raw materials introduced by the EU and G7 countries still persists, and the Russian government will assess it in the near future. 

Novak said in late December that Russia is ready to cut oil production by 5-7% in early 2023 as a response measure to the price cap imposed by the West on Russian crude oil.

"Yes, there are such risks. We will be evaluating them soon," Novak told reporters when asked if there are any prerequisites for a reduction in oil production now.

Another package of sanctions against Russian oil went into effect earlier in February, with the EU agreeing on a $100 per barrel ceiling for Russian diesel fuel, and $45 per barrel for discounted products such as fuel oil.

Related News

Russian economy grows 1% in January–August, inflation at 8%

Fuel shortages push Russia to mull further export restrictions

Read more: Russia's oil, condensate production in 2022 up by 2.1% y/y to 534Mt

Russia to voluntarily reduce oil production by 500,000 bpd in March

In the same context, Novak indicated that Russia will voluntarily reduce oil production by 500,000 barrels per day (bpd) in March in order to contribute to the restoration of market relations.

"Russia will voluntarily cut production by 500,000 barrels per day in March. This will contribute to the restoration of market relations. When making further decisions, we will make decisions based on the current market situation," the Russian diplomat told a briefing.

Novak affirmed that Russia is selling all of its oil but will not sell it to those who directly or indirectly support the price cap.

Read more: Oil sanctions are a fail for the West, a win for Russia: The Economist

  • Moscow
  • Russia
  • Alexander Novak
  • Price cap

Most Read

Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
ap

'Israel' pays influencers $7K per post to whitewash Gaza genocide

  • Politics
  • 1 Oct 2025
Mossad’s secret role in Aldo Moro’s 1978 murder revealed

Mossad’s secret role in Aldo Moro’s 1978 murder exposed

  • Politics
  • 5 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Retired Israeli General Brik says Israel has reached point of no return.
Politics

Retired Israeli General Brik: 'Israel has reached point of no return'

Depleted by foreign wars, US seeks to re-arm for another confrontation
Politics

Depleted by foreign wars, US seeks to re-arm for another confrontation

Gaza’s newborns gasp for life as hospitals collapse amid Israeli war
Health

Gaza newborns gasp for life, share oxygen masks amid collapsed system

UK arms exports to 'Israel' reach record high despite ban calls
Politics

UK arms exports to 'Israel' reach record high despite ban calls

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS