- According to experts, the decline in Russia's production will lead to a significant increase in the price of oil on the world market, given the decision of OPEC+ to cut production from November
According to TASS, Russia's state-owned news agency article published on November 9, 2022, Russia may reduce oil production in December by 1.5-1.7 mln barrels per day (bpd) from the level of June-October to around 9 mln bpd, according to analysts at the Energy Development Center.
"We expect that production in December will fall by 1.5-1.7 mln barrels per day compared to the June-October average, or 14%," the report said.
According to experts, the decline in Russia's production will lead to a significant increase in the price of oil on the world market, given the decision of OPEC+ to cut production from November.
