The proposal of decreasing Russian oil output to boost prices has dangers and would need careful consideration, Deputy Finance Minister Alexei Sazanov told Reuters on Friday.

On Thursday, Deputy Prime Minister Alexander Novak told RBC business channel that Russia has no need to reduce its oil supply in reaction to the EU embargo.

Novak previously said that he projected Russia’s annual oil output in 2022 to be around 500 million tonnes, a decrease from 524 million tonnes last year.

Source: Reuters

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