China Galaxy Securities, giving the oil a Recommended (Hold) rating. On the supply side: on Feb. 5, the EU's price limit mechanism for Russian seaborne petroleum products officially emerged. On Feb. 10, Russia announced plans to cut crude oil production by 500,000 barrels per day in March, a reduction of about 5%. OPEC+ maintained its previous production policy, and U.S. crude oil production grew slowly...
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On the supply side: on Feb. 5, the EU's price limit mechanism for Russian seaborne petroleum products officially emerged. On Feb. 10, Russia announced plans to cut crude oil production by 500,000 barrels per day in March, a reduction of about 5%. OPEC+ maintained its previous production policy, and U.S. crude oil production grew slowly...
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