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Russia slashed its oil output in March by 40% more than previously announced, Bloomberg has reported, citing a source familiar with Energy Ministry data. The decline was the equivalent of around 700,000 barrels per day (bpd), the outlet stated.

The World Bank will look for solutions to the mounting challenges facing developing countries, the organization’s president, David Malpass, has vowed ahead of its spring session.  “Resolving the impasse in debt restructurings, especially for the world’s poorest countries, is going to be at the center of discussions,” Malpass wrote on Sunday in a blog. The…