The International Energy Agency said today, Wednesday, that 3 million barrels per day of Russian oil and its products may not reach the markets by the beginning of next April, the Russian invasion of Ukraine.
The agency said in its monthly report: “We expect a reduction in total exports of up to 2.5 million barrels per day, of which crude represents 1.5 million barrels per day and products are one million barrels per day.”
The agency expected a decline in Russian domestic demand for oil products.
“These losses will increase if the ban and public discontent escalate,” the agency said.