EIA Warns Of Substantial Fall In Russian Oil Production ...Middle East

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EIA Warns Of Substantial Fall In Russian Oil Production
source : OILPRICE ( Middle East ) () 12
Russia’s crude oil output could decline by 18 percent by the end of next year, the U.S. Energy Information Administration has forecast, citing the European Union’s planned embargo on Russian oil imports. The U.S. energy authority forecasts that Russian oil output will decline from 11.3 million bpd in the first quarter of 2022 to 9.3 million bpd in the final quarter of 2023 as a result of the EU embargo on both crude oil and refined product imports. The agency noted, however, that “This forecast does not reflect restrictions on…

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