Russia is ready to comply with the OPEC+, the Organization of the Petroleum Exporting Countries and its allies, output cut agreement in January, Russian news agency Interfax reported on Wednesday, citing Energy Minister Alexander Novak.
Crude oil largely ignored this comment and the barrel of West Texas Intermediate (WTI) was last seen trading at $58.05, where it was down only 0.08% on a daily basis. Later in the day, the Energy Information Administration's (EIA) weekly crude oil stock reports will be looked upon for fresh impetus.
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