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Russia To Freeze Oil Production

Russia says low oil prices may last for decadesRussian agency Interfax is reporting this morning that President Putin has declared Russia ready to freeze oil production at current levels starting on November 30, 2016. This declaration comes ahead of the OPEC meeting. Mr. Putin has further commented that while an agreement at the OPEC meeting could not be guaranteed, it was likely and that the freezing of Russian oil output at current levels would not be harmful to the Russian energy sector.

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