IEA: Russia Broke Promise, Oil Exports Hit New High since Russia-Ukraine Conflict

On Tuesday May 16, local time, the International Energy Agency (IEA) said in its monthly report that Russia did not fully implement its announced production cut plan, and the country's oil exports hit a new high since the outbreak of the Russia-Ukraine conflict.

The IEA said in a report: "According to our estimates, Russia has not fully implemented its announced commitment to cut production by 500,000 barrels per day. In fact, Russia may be ramping up capacity to make up for lost revenue. “

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