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Russia says oil firms to cut investments, not output growth in 2016

Published December 8, 2015 Updated December 8, 2015 02:26pm

1 min

By Shoaib Ur Rehman

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MOSCOW: Russian oil firms will slightly lower investments next year but keep the pace of oil production growth, Deputy Energy Minister Kirill Molodtsov told reporters on Tuesday.

In November, Russia continued extracting oil at a post-Soviet record high of 10.78 million barrels per day despite weak oil prices.

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