Russia said on Sunday it would deepen oil export cuts in December, earlier than promised, as the world’s biggest exporters try to support the global price.
Russian Deputy Prime Minister Alexander Novak said the country would deepen cuts to below the 300,000 barrels per day of cuts already agreed, the Interfax news agency reported.
Russian Energy Minister Nikolai Shulginov said on Sunday that the government does not yet see grounds for lifting the ban on the export of winter diesel, the Interfax news agency reported.
Russia, the world’s top seaborne exporter of diesel, introduced a ban on fuel exports on Sept. 21 to tackle high domestic prices and shortages. It later lifted most of the restrictions.