Russia to maintain high oil output – JPMorgan ...News

Production can be kept at high levels due to steady demand from Asia, the Wall Street bank says Russian oil drillers can maintain high production despite numerous rounds of Western sanctions, JPMorgan projected this week, according to Reuters.  The Wall Street bank pointed to growing demand for crude oil from China and India which is expected to increase collectively by 1 million barrels per day (mbd) this year. “We believe Russia will be able to maintain its oil production at pre-war levels of 10.8 mbd but will have difficulties getting back to peak pre-Covid volumes of 11.3 mbd,” JPMorgan reportedly stated. The

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