Russia cashes in on halt in Middle East oil and LNG production

Monday, 16 March 2026

With more than 12 million barrels of oil equivalent per day (boepd) of Middle East crude oil and LNG production taken offline due to the Iran war, Russia emerges as the clear winner of global supply shortages. US President Trump’s sanctions relief for Russia’s short-term oil was meant to ease supply disruptions, but had little effect.


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Last modified on Monday, 16 March 2026 10:29
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