Russian crude oil production came in at 9.33mln BPD in December, Bloomberg reports; over 100k BPD below November's level due to drone activity and the impact of sanctions
Newsquawk Staff ·
Russian crude oil production came in at 9.33mln BPD in December, Bloomberg reports; over 100k BPD below November's level due to drone activity and the impact of sanctions.
What it means
The production decline in Russian crude oil to 9.33 million BPD in December, driven by drone activity and sanctions, signals a tighter supply environment. This reduction may support higher oil prices, impacting commodity markets and related currencies, such as the RUB and NOK. Traders should consider the implications for inflation expectations and geopolitical risk factors moving forward.
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