Russia May Cut Oil Output From 2025

Russia, the world's second biggest oil exporter, may start cutting its annual oil exports by 1% a year from 2025, Russia's Economic Development Minister German Gref said.

"Until 2025 we will increase the supply of oil to the market, and then we will reduce them perhaps by 1.0 pct a year," he was quoted by Interfax news agency as saying at a meeting here with ambassadors from Latin American nations.