Commodities Live: Russia To Cut Oil Production Over Price Caps, Europe Is Also Set To Ramp Up Its Oil War Against Russia

Name: Commodities Live: Russia To Cut Oil Production Over Price Caps, Europe Is Also Set To Ramp Up Its Oil War Against Russia
Uploaded: 2023-02-10T19:00:01+05:30
Duration: 21 min 6 s
Description: 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.

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.

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Written By: Zee Business Video Team

Updated on: February 11, 2023, 11.29 AM IST