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Russia Not Experiencing Oil Sale Difficulties: Russian Energy Minister

OIL

Despite western sanctions, Russia is not experiencing any difficulties with sales of crude oil and petroleum products First Deputy Energy Minister Pavel Sorokin said this week.

  • "We have learned over that year that it is not merely possible to live [in conditions of sanctions] but also to redirect flows quickly and efficiently. The Russian industry does not experience problems with sales of oil and petroleum products. Difficulties are in place, they emerge, but the industry is coping with them," Sorokin said.
  • Russia claims it has cut its crude production by 500,000 bpd in March but export volumes remain buoyant so far.
  • Novak announced this week that the production cuts would extend until late June which helped to firm crude markets earlier in the week.
Energy BulletsCommodities
Energy BulletsCommodities

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