The Inevitable Decline Of Russia’s Oil Industry

Russia’s oil production is already falling and will continue dropping in the coming months and years as Moscow will not be able to redirect to China and India all the volumes it is losing in the West.   As the European Union tries to work out the details of a proposed full embargo on Russian oil imports by the end of the year - by potentially exempting Hungary and Slovakia for two years from complying with a ban - buyers in Europe and major international traders are increasingly shunning Russian oil.    Western sanctions…