Russia unaware of proposal for further cuts as opec plans meeting

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Russia has expressed surprise and unawareness about a proposal for further oil production cuts, which is reportedly being considered by the Organization of the Petroleum Exporting Countries (OPEC) ahead of its meeting next week. OPEC, along with its allies, has been implementing production cuts since 2017 to stabilize the global oil market and boost prices.

The proposal for additional cuts is believed to be aimed at addressing the recent decline in oil prices, which have fallen by around 20% since October due to concerns over the global economic slowdown and rising shale oil production in the United States.

Russia, which is one of the largest oil producers in the world, has been a key player in OPEC's production-cutting agreement. However, it has been resistant to further cuts, citing its own economic concerns and the need to maintain its market share.

The upcoming OPEC meeting is expected to be a crucial one, as the organization will need to decide whether to implement additional production cuts or maintain the current level of production. The outcome of the meeting will likely have a significant impact on the global oil market and prices.

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