The world’s second-biggest oil exporter, Russia, is planning to cut overseas shipments of its seaborne crude from the country’s western ports next month, to curb a record surge in domestic fuel prices.
The exports of Urals crude from Russia’s western ports will be slashed by up to 20 percent in February, Bloomberg reports, citing the loading program. Russia will reportedly ship around 1.13 million barrels of oil per day (bpd) against 1.38 million bpd recorded in January.
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