EnergyWatch

Risk of increased production sends oil prices down

Russia has indicated that the country will gradually increase oil production after it has held back supply under the OPEC agreement since last year.

Photo: /ritzaui/AP/Hasan Jamal

Oil prices declined slightly Friday mornings in the wake of indications from Russia that the country will gradually increase oil production after holding back supply since last year due to an OPEC deal.

The OPEC countries have cut down on oil production since 2017 in order to boost prices from the low level of the past few years, and Russia in particular is expected to put an end to production cutbacks, reports Reuters.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Further reading

Related articles

Latest News

See all jobs