RUSSIA Cuts Oil Production Again - Questions Raised Over Production Problems as Income Falls $74BN

Please Support The Channel: YouTube Membership - YouTube Super Thanks (click below) Russia has announced a further PRODUCTION CUT of 50,000 Barrels Per Day in December which follows on from the cuts of 500,000 in April and 300,000 in September. Despite the Production Cuts the price of Russian Oil is continuing to fall as the USA and countries such as Iran and Venezuela have increased their supplies. Russia is losing huge amounts of Income and all of this comes at a bad time as it needs to maximise the revenue it is earning to support spending on the War in Ukraine. The Russian Economy has started to COLLAPSE as the impact of the Sanctions hit home. Russia’s OIL & GAS Revenue is down 63% in the first 11 months of 2023 compared with the revenue Russia was earning prior to the invasion of Ukraine. In addition to this huge reduction in income Expenditure