RUSSIAN Oil Disaster as Production Slashed by 500,000 Barrels Per Day as Sanctions Hit Oil Volumes

Please Support The Channel:
YouTube Super Thanks (click below)
YouTube Membership (click below)
https://www.buymeacoffee.com/JoeBlogs
https://www.patreon.com/joeblogsYT

RUSSIA has announced that it is Cutting its Oil Production by 500,000 Barrels Per Day from March as European Ban & Price Cap Hits Russian Oil Volumes. The European Union introduced a Total Ban on the purchase of Russian Seaborn Crude Oil on 5th December and the purchase of Refined Products on 5th February. In addition to these Bans Price Caps were also introduced for each product on the same dates. Total direct income losses from the Bans and Caps will be over $90 Billion however the biggest issue that Russia now faces is PRODUCTION problems if it can't finds new markets for the lost sales to Europe. In this video I provide more details on the recent announcement, provide further information on the recent fall in sales, analyze the price of Russian Oil and discuss the future impact on Russia.

For specific details please check out the CHAPTER list below.

Thanks for watching and please LIKE and SUBSCRIBE.

If you like this video and are would like to buy me a coffee please click the link below. THANK YOU it is very much appreciated.

https://www.buymeacoffee.com/JoeBlogs

Chapters:
0:00 Intro
2:45 PRODUCTION REDUCTION
5:41 IMPACT OF EUROPEAN BAN
8:25 RUSSIAN SALES VOLUMES
10:40 REFINED OIL PRODUCTS
14:00 IMPACT ON RUSSIA
16:59 SUMMARY & CONCLUSION