MOSCOW: The US Department of Energy expects Russia’s oil production to go down by 0.1 mln barrels per day (mbd) in the first quarter of nex...
MOSCOW: The US Department of Energy expects Russia’s oil production to go down by 0.1 mln barrels per day (mbd) in the first quarter of next year as the market adjusts to the imposed restrictions, according to a report from the Department’s Energy Information Administration (EIA).
Sanctions against Russia will primarily lead to an increase in costs and risks associated with transportation of Russian oil, which will push prices received by Russian oil producers down, according to the report.
In October, the US Department of the Treasury included oil producing companies Lukoil and Rosneft, as well as 34 subsidiaries of those firms, in a new package of US sanctions.
-News Feed
COMMENTS