S&P Global: Russian will maintain oil production longer than expected

Alix Steel and Catherine Traywick, Bloomberg March 09, 2023

(Bloomberg) – Despite the exodus of almost every Western oil company, Russia can maintain crude oil production longer than many expect, according to S&P Global Vice Chairman Dan Yergin.

“There’s going to be a decline but it’s going to be a slower decline,” Yergin told Bloomberg TV at the CERAWeek by S&P Global conference in Houston on Wednesday. It won’t be “the dramatic fall off a cliff that some people projected a year ago.”

Russia’s ability to develop liquefied natural gas, on the other hand, will peak sooner due to technological constraints, he said. 

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