Russia’s oil output has likely declined 250 kbd in March and 500 kbd so far in April

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Speakers:Natasha Kaneva, Head of Global Oil and Commodities Research   This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4389047-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.