MOSCOW (Pakistan Point News / Sputnik - 18th January, 2023) The production of crude oil and condensates in Russia decreased by 30,000 barrels per day in December and reached 11.21 million barrels per day, the International Energy Agency (IEA) said in a fresh report released on Wednesday.
"Despite the EU import ban and G7 price cap, Russian production merely dipped 30 kb/d in December. Crude oil exports fell due to the newly imposed sanctions but Russia raised refinery throughput and appeared to have stored significant volumes to keep the taps open. Crude oil supply accounted for all the loss, easing to 9.77 mb/d in December - taking total output of crude oil, condensates and NGLs to 11.2 mb/d, just 190 kb/d below pre-invasion levels," the report read.
