Oil exports from Russia will continue to decline

DAVOS, Jan 19 (Reuters) – International Energy Agency (IEA) chief Fatih Birol said on Thursday that oil exports from Russia are declining in line with the agency’s forecast and will continue to decline in the first quarter of the year and beyond. He added that Russian oil exports proved to be more stable than originally thought.

According to the head of the IEA, energy markets may become more compressed in 2023. Birol also hopes that prices will not rise further, as this will protect emerging energy-importing markets, for which economic forecasts are disappointing.

“I wouldn’t get too relaxed about the markets: 2023 could very well be the year we see a tighter market than some colleagues might think,” the IEA chief executive told Reuters at the Davos Economic Forum.

The original report in English is available at the code: (Divya Chowdhury and Maha El Dahan, Reuters Gdansk)

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