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Russia open to possible oil output hike
MOSCOW, Feb. 18 (UPI) — A move to freeze crude oil production at January levels still leaves room for production growth from Russia this year, the deputy energy minister said.
As of January, Russian Deputy Energy Minister Kirill Molodtsov said oil production was 1.9 percent higher than last year.
“We have a tendency of production growth, and we can retain it,” he was quoted by Russian news agency Tass as saying. “It is possible to increase production in connection with the introduction of new fields.”
Russia's economy is among those facing pressure from the slump in crude oil prices, which are off roughly 70 percent from peaks above $100 per barrel in mid-2014. According to the latest report from the Organization of Petroleum Exporting Countries, Russia faces a real risk of lingering recession …. http://www.upi.com
Source: http://luismmx.blogspot.com/2016/02/russia-open-to-possible-oil-output-hike.html
