Russia Supports OPEC Plan to Lift Oil Production

VIENNA—Russia on Saturday threw its support behind Saudi Arabia’s plan to ramp up global oil in the face of higher prices, after more than a year of holding back output in coordination with OPEC.

Russian Energy Minister Alexander Novak said his country backed a plan by the Organization of the Petroleum Exporting Countries to raise crude production by a nominal one million barrels a day starting next month. Though, the actual increase is expected to be around 600,000 barrels a day, according to people familiar with…

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