A European official has played down the impact of Russia's cut in oil production, insisting the bloc forced Vladimir Putin into the move with sanctions.
Kadri Simson, EU Energy Commissioner, told the Telegraph: "It wasn't voluntary. It was forced on them.
"They don't have the ability to keep up the production volumes because they don't have access to necessary technology."
Ms Simson added that sanctions have restricted Russia's ability to find buyers for all the 10.9million barrels a day it was pumping late last year, even after accepting big discounts.
Brent crude jumped at the end of last week after Deputy Prime Minister Alexander Novak said Russia would lower production by 500,000 barrels a day next month.
Ms Simson said Russia's move - which follows an EU ban on imports of almost all of Moscow's crude and refined fuels and a G7 price cap - was unlikely to push oil higher in the long run.
OPEC officials believe oil may resume rally
Brent futures were just over $86 a barrel this morning, but OPEC officials believe oil may resume its rally in 2023.
They point to Chinese demand recovering after Covid curbs were scrapped and lack of investment limiting growth in supply,
In 2022, oil soared well above $100 for the first time since 2014 as demand recovered from Covid lockdowns in much of the world and Russia's invasion of Ukraine added to supply concerns.
But Brent prices later fell back significantly.
Reuters says a move back above $100 for a prolonged period would earn more revenue for OPEC members, whose economies mostly depend on oil income, but be a setback for industrialised economies trying to control inflation and interest rates.
To support the market, OPEC and allies including Russia, known as OPEC+, in October agreed to cut production by two million barrels per day, about 2% of world demand.