Russian oil output could plunge – IEA ...News

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Russian oil output could plunge – IEA
source : Russia Today ( News ) () 21
EU import ban may result in a 20% drop in production, the International Energy Agency says Production of crude in Russia may fall by roughly 20% by the beginning of the next year as the ban on imports of the country’s oil imposed by the EU comes into effect, according to the International Energy Agency. EU member states are set to stop purchasing crude from Russia starting December 5, while the bloc’s ban on Russian oil-product shipments takes effect from February 5. The agency projects gradual monthly declines to begin this month as Russia cuts back refining, while the embargo will quicken the process. According

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