Oil prices surge as Russia says it will slash crude production by 5% next month
Oil prices surged on Friday as Russia announced it would slash its crude production by 5% next month, following through on earlier threats to retaliate against Western sanctions.
Crude prices surged shortly after the announcement, with Brent crude briefly rising 2.5% to $86.60 a barrel. Prices later eased to $85.64 a barrel.lower than what Russian officials previously suggested
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