Satellite images show that Russia has reduced oil production by almost 10% since February 24
After the full-scale invasion of Ukraine, the Russian Federation began producing almost 10% less oil than before February 24. This is evidenced by satellite images used to measure gas combustion in Russian oil fields, writes Insider.
According to the analytical company OilX, in the period from 1 to 19 April, oil production in Russia fell by an average of 10.1 million barrels per day, which is less than 11 million barrels in March and 11.1 million barrels in February.
The decline in the period from February to April is a decline of 9%.
OilX uses images from NASA satellites to track the amount of light emitted by oil towers as they burn excess natural gas in a process known as flare burning. The lowest light emissions indicate that less oil is being pumped, and vice versa.
It will be recalled that the United States banned the import of Russian energy resources in connection with the full-scale Russian invasion of Ukraine which began on February 24. The European Union, which is heavily dependent on Russian oil and gas, has not done so, although several countries, including Germany, the bloc’s leading economy, have pledged to phase out Russian energy.
According to OilX, oil production in Russia from 1 to 19 April was the lowest since September 2020. If oil production in Russia continues to fall at the current rate, the average production in April will be about 10 million barrels per day, according to OilX.
Bloomberg noted that Russian oil exports fell 25 percent in the week to April 15, and crude oil revenues fell to $ 181 million from $ 240 million.
According to the International Energy Agency, last year Russia supplied about one-third of its natural gas to the EU and Britain. The European Commission has proposed to reduce the EU’s demand for Russian gas by two-thirds by the end of 2022.
The Wall Street Journal reported last week that Russia is increasingly supplying export oil labeled “unknown destination” to hide the origin of the oil from buyers who want to continue their relationship with Moscow.
