Russia extends oil production cuts until end of 2023: deputy PM

Russia on Sunday said it was extending until the end of the year oil production cuts of 500,000 barrels per day, a response to Western sanctions that was due to expire at the end of June.

"As a responsible and preventive action, Russia is implementing a voluntary reduction of 500,000 barrels per day until the end of 2023," Alexander Novak, a deputy prime minister in charge of energy issues, said in a statement.