Russian Oil Production to Decline 17% This Year — Finance Minister

Storage tanks are filling up

Some of the loss may be recouped in higher prices

Editor’s note: There are complications with shipping and payments caused by sanctions. Also some countries and companies are trying not to buy Russian if they can. This means less demand which means storage will soon be full after which production must drop.

Siluanov speaks of a 17% drop but the government just stopped publishing oil production data so it could be 30% and we wouldn’t know.

Source: Komsomolskaya Pravda

Machine translated from Russian.

Oil production in Russia may be reduced this year by 17%, says Russian Finance Minister Anton Siluanov.

“If Western countries refuse, we will look for other sources of consumption of our energy. If they refuse in one place, we will sell to other places. There will be a decline in production. 17%, a little less, a little more. Maybe so,” he told reporters.

The head of the Ministry of Finance noted that now it is difficult to assess how energy sales will continue to be conducted.

  1. SteveK9 says

    Whatever it is, it is. Russia is fighting a war, not trying to maintain ‘business as usual’.

  2. ken says

    Oil doesn’t go bad. Simply reducing the production saves for the future but our civilization doesn’t save anything. Everything is throwaway, from Pepsi to Autos and now to used up lithium batteries.

    Russia has a little skirmish going that everyone is trying soooooooooooooooo hard to make it WWIIII. If not for the mocking bird news few would even know it was going on. The US had far more troops and equipment in each of its wars and no whining, crying about the poor starving masses of the world or the lack of fuel.

    Three times in my generation (boomers) they tried the plandemic bs,,, failed. Difference? They now have a couple of generations totally lacking of life skills or cogent thought or worse, thoughts planted into their mush they call minds. Easy prey for the parasites among us telling us the horrors coming. How do they know? Because they are causing all of it but the recent generations with rings through their noses, and other parts, are capable to be turned on and off like a light switch. And that’s the problem for the rest of us. One cannot reason with stupid people incapable of thinking logically. The Kill shots are proof of that. They are shooting up their children with a poison, willing to go without fuel and food for a cause which they have no dog in the fight and begging for WWIIII.

    Fear, Fear, Fear. If it bleeds, it leads. Fear, Fear, Fear.

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