CERAWeek 2023: Russian Oil Production Will Be Stubborn to Fall, S&P’s Yergin Says

CERAWeek 2023: Russian Oil Production Will Be Stubborn to Fall, S&P’s Yergin Says – Bloomberg

Daniel Yergin on March 6. CERAWeek 2023 — Daniel Yergin on March 6. (F. Carter Smith/Bloomberg)

Alix Steel and Catherine Traywick, Bloomberg News

HOUSTON
EnergiesNet.com 03 08 2023

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

“There’s going to be a decline but it’s gonna 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.

bloomberg.com 03 08 2023

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