The head of the International Energy Agency, Fatih Birol, said that Russia’s oil production did not fall as much as was previously expected, given Moscow’s success in finding new markets outside Europe.
However, Birol believes that it will be difficult for Russia to maintain its oil production levels due to the absence of Western companies.
With regard to the gas sector, Birol said that Russia will increase the pace of gas flaring in the coming months due to the fullness of gas reserves in the country.
The head of the International Energy Agency stressed at a conference in Norway that confidence in Russia as a major energy supplier has begun to decline around the world following the outbreak of its war in Ukraine, and that the loss of Europe as an important importer of Russian gas harms Moscow.
