News > IEA says 3 million bpd of Russian oil, products could be shut in next month

IEA says 3 million bpd of Russian oil, products could be shut in next month

Three million barrels per day of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the International Energy Agency said on Wednesday, as sanctions bite and buyers hold off.

“We see a reduction in total exports of 2.5 million bpd, of which crude accounts for 1.5 million bpd and products 1 million bpd,” the IEA said in its monthly oil report.