Russian Oil Production Will Be Stubborn to Fall, S&P’s Yergin Says

Despite the exodus of almost every Western oil company, Russia can maintain crude production longer than many expect, according to S&P Global Vice Chairman Dan Yergin.

“There’s going to be a decline but it’s gonna be a slower decline,” Yergin told Bloomberg TV at the CERAWeek by S&P Global conference in Houston on Wednesday. It won’t be “the dramatic fall off a cliff that some people projected a year ago.”