Russian hydrocarbons output, exports to drop significantly following Ukraine invasion

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The Russian Economy Ministry forecasts Russian hydrocarbons output and exports to drop significantly in 2022, as Russian energy producers grapple with the impact of the invasion of Ukraine and western sanctions. The ministry’s forecasts reflect how the consequences of the invasion are reshaping the Russian energy sector. Its base-case scenario includes oil output falling 9.3% on year in 2022 to…