Reuters: Russia expects its oil production to fall by up to 17% in 2022.

The U.S. ban on Russian oil imports along with other sanctions on Russian banks and vessels, “had crippled the oil trade, one of Moscow's key sources of revenue,” Reuters reports. “According to the document, Russian oil output may decline to between 433.8 million and 475.3 million tonnes (between 8.68 million and 9.5 million barrels per day) in 2022 from 524 million tonnes in 2021.”