Russia's oil exports are climbing near 4-month highs despite big production cuts

Tue, 11/07/2023 - 11:43

Russia arctic oil rig — Russia previously promised to trim oil production by 300,000 barrels a day through the end of the year, part of its efforts with Saudi Arabia to boost oil prices.
(Photo by Dmitry Korotayev/Kommersant Photo via Getty Images)

Russia is shipping the most oil in nearly four months, Bloomberg data shows.
That comes despite commitments to trim production by 300,000 barrels a day through year-end.
Brent crude prices slipped on Tuesday, trading around $83 a barrel.

Russia's oil exports are edging towards their highest level in four months, despite the nation's earlier promises to deliver hefty production cuts with Saudi Arabia.