Russian Deputy Prime Minister Novak: We Increase Oil Production By 2.2 Percent This Year

Russian Deputy Prime Minister Aleksandr Novak said Russia increased its oil production by 2.2 percent to 488 million in 11 months of the year.

Novak, speaking to reporters in the capital Moscow, said his country has increased its oil production. Novak, “In 11 months of the year, we produced 488 million tons of oil, an increase of 2.2 percent.” he said he.

PRICE CEILING WILL BE ANSWER

EU countries agreed on December 2 on a maximum price of $60 a barrel for oil shipped from Russia.

The G7 countries and the EU have also started to impose an import ban on oil transported by sea from Russia starting today.

Kremlin spokesman Dmitriy Peskov announced yesterday that Western countries would respond to the request for a maximum price for Russian oil.

Novak, in a December 3 statement, said he would not sell oil and petroleum products to countries that apply maximum prices. (AA)