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Russia: OPEC+ Decision Supports The Budget Plan

Adel 9 December, 2020 5:23 pm Market Update

Russia’s Finance Minister Anton Siluanov said last week’s decision by the OPEC+ group to gradually increase oil production would help Russia implement its budget revenue plan and may also contribute to the growth of its sovereign wealth fund.

The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Russia agreed on Thursday to slightly reduce oil production cuts, starting in January, by 500,000 barrels per day.

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