RE:Russia to cut oil output by 500,000 bpd in MarchExpect mpre of this as the EU embargo starts to take effect. You cannot keep producing when you can't sell it and that shut in production does not ramp back up in a day,,,,if it ever does,
I would also expect the embargo to reflect in NG shortages price increases soon first TTF then HH and AECO. It won't be as big as oil but enough to sustain or slightly increase pricing from here especially if a warmer than normal summer hits like last year.
GLTA ARX BULLS