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Russia may cut oil output due to price cap -deputy PM

By:
Reuters
Published: Nov 21, 2022, 18:06 UTC

MOSCOW (Reuters) - Russia will not ship oil or oil products to countries imposing a price cap on its oil exports and may also cut crude production, Deputy Prime Minister Alexander Novak said on Monday.

Steam rises from chimneys of the Gazprom Neft's oil refinery in Omsk

MOSCOW (Reuters) – Russia will not ship oil or oil products to countries imposing a price cap on its oil exports and may also cut crude production, Deputy Prime Minister Alexander Novak said on Monday.

He reiterated that Russia remained a reliable oil supplier and that the introduction of a price cap on Russian oil would trigger lower supply.

(Reporting by Reuters; Editing by Mark Heinrich)

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