The IEA predicts a reduction in oil production in Russia by 1 million barrels per day in 2023

This was stated by the director of the IEA Fatih Birol.

“We believe that oil production in Russia will decrease by almost 1 million bpd in the next quarters,” TASS quoted him as saying.

Because of this, volatility is expected in the oil markets, he added.

Birol added that the key point in the issue of the situation in this market is the prospects for oil production in Russia.

Earlier, Russian Deputy Prime Minister Alexander Novak said that oil production and exports in the country in January remain approximately at the December level.