Russia Deputy PM Novak says they are currently witnessing the worst energy crisis in the last forty years, via Tass
- Conflict is currently affecting at least 20mln BPD of oil.
- 20% of global gas production is currently unable to reach the market.
Context
The declaration by Russia's Deputy PM Novak about the current energy crisis signals a severe disruption in both oil and gas markets, underlining the geopolitical tensions at play. With significant volumes of oil and gas production hampered, this could lead to heightened prices and increased volatility in energy markets, potentially spilling over into broader economic implications for regions heavily reliant on these resources.
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