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Russia says it has ‘significant potential’ to hike oil production after Iran sanctions

  • Russia could restore production to "October 2016 levels," Energy Minister Alexander Novak said.
  • In response to Trump's criticisms of OPEC, Novak said the aim of the group was oil market stability.
  • OPEC says the oil industry needs to invest $11 trillion over the next 20 years to satisfy global crude demand.

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