Russia Sees Gradual Easing of Oil Production Cuts After OPEC Meeting

Russia’s oil minister Novak comments that a gradual easing of oil production cuts is possible from July 1. He will discuss with Saudi’s Falih the gradual exit from the global oil production cut deal. Russian oil companies have been out and loud about their ability to raise production quickly.

Central Bank of Russia Says Economy Less Dependant on Crude With The Price of Oil in Rubles at All Time High

Head of the Central Bank of Russia Elvira Nabiullin says that the Russian economy and ruble have become less dependent on oil markets. This comes at a time when Russian oil giants are getting record prices, but not commesurate profits with the price of crude in rubles at an all-time high. Questions remain.