The IEA predicted a 20% drop in oil production in Russia

IEA forecasts (https://) /www.bloomberg.com/news/articles/2022-08-11/iea-sees-russian-oil-output-down-20-when-eu-ban-takes-effect) drop in oil production in Russia by 20% or 2 million bpd by the beginning of 2023, when the European oil embargo will be fully implemented. The decline will begin in August after recovering to 10.8 million bpd in the last three months, the agency suggests.