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Trading news
2 Feb 2017
Russia’s Novak - Global oil output was cut by 1.4 mbpd
Russian Energy Minister Alexander Novak informed markets that global oil output was cut by 1.4 million barrels per day.
Novak also said last month that Russia had reduced its oil production by some 100,000 barrels a day. "We are also noticing a significant decrease in speculative pressure to the prices," Novak told Putin.