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Russia to keep crude output in December at November level, says Deputy PM Novak

Earlier on Tuesday, Alexander Novak said that Russia’s crude production increased by 2.2% in January-November 2022 to 488 mln tonnes

MOSCOW, December 6. /TASS/. Russia will keep oil production in December at the November level amid the EU’s embargo and the price cap, Deputy Prime Minister Alexander Novak told reporters.

"We are confident that in December sales on the global market will be at the level of November. Further on we will look at how respective products are sold, how the market situation unfolds. There are a lot of uncertainties here as well, particularly connected with demands in the global economy," he said.

Earlier on Tuesday, Novak said that Russia’s crude production increased by 2.2% in January-November 2022 to 488 mln tonnes.

On December 5, an embargo on maritime Russian oil shipments to the European Union was enforced. Moreover, the decision of the EU states, the G7 and Australia on a regulated price cap on Russian oil delivered by sea of $60 a barrel came into force. Novak said earlier that Moscow would not sell oil amid the price cap even if it was forced to cut production.

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Alexander Novak

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