Commodities Live: Russia To Cut Oil Production Over Price Caps, Europe Is Also Set To Ramp Up Its Oil War Against Russia
Zee Business Video Team | Updated: February 11, 2023 11:29 AM IST
Russia will reduce crude production by 5 lakh barrels per day in March. Moreover, European Union will also impose ban on fuel products from February 5. Russian oil has a price cap of $60. Crude oil prices surged on the news of reduction in crude production by Russia. Brent crude reached near $87 and WTI crude reached near $80.
