Moscow: Russia announced Friday that will cut oil production by 500,000 barrels per day next month after Western countries capped the price of its crude over its action in Ukraine.“

As of today, we fully sell all our crude output, but as we stated before, we will not sell oil to those who directly or indirectly adhere to the price ceiling,” Deputy Prime Minister Alexander Novak said in remarks carried by Russian news agencies.

Asked if Russia consulted OPEC+ members about Moscow’s new production cut, Kremlin spokesman Dmitry Peskov said “there had been conversations with some members of the OPEC+” before the move was announced. He didn’t offer any details.

millenniumpost Russia says it will cut crude oil output over Western price caps