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G7 and Australia on Friday agreed a $60 per barrel price cap on Russian seaborne crude oil
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No discussions about Russian price cap; Oil prices have come under pressure from weak economy; Next meetings to take place February 1 and June 3-4
Decision comes two days after the Group of Seven nations agreed a price cap on Russian oil
The cap stops countries paying more than $60 a barrel for Russian oil deliveries by tanker vessels
Fuel committee cut prices by Dh0.02 per litre; since the government decided to deregulate retail fuel prices, the committee updates rates every month
The committee decreased the rates by up to 2 fils per litre after increasing them by up to 29 fils per litre in November
Opec output falls 710,000bpd from October; Opec complies with 163% of pledged cuts in November; Quota-bound members undershoot target by 800,000bpd
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Opec+ expected to roll over policy on Sunday; Opec+ also cancels Friday technical meeting; Russian price cap, Chinese demand in focus
The EU ban, on Russian oil is set to kick in on December 5 along with a plan by G7 nations to enforce a low price for Russian oil sales