LONDON—Oil markets could lose three million barrels per day (bpd) of Russian crude and refined products from April, the International Energy Agency (IEA) said on Wednesday, exceeding the one million bpd per day demand drop high prices are expected to cause.
The Paris-based watchdog said sanctions and buyer reluctance to purchase Russian crude were pushing up oil prices in a way that would hit personal budgets, drive up inflation, which has already hit multi-decade highs, and undercut economic recovery.
