IEA says Russia can stop producing 3 mln bbd of oil in April

MOSCOW, Mar 16 (PRIME) -- Russia can stop producing about 3 million barrels of oil per day starting from April due to an increasing number of refusals by the buyers, the International Energy Agency (IEA) said in their monthly report on Wednesday.

The agency said that if the suspension in production lasts for a long time, the oil market would see a deficit in April–June and July–September with the April–June gap estimated at 700,000 barrels per day.

Russia's oil output in February was estimated at 10.05 million barrels per day, a 20,000 barrel per day decrease. The level of the OPEC plus deal fulfillment amounted to 123%.

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