Pressure Mounts On Russia's Oil Industry

Energy Markets on War Footing Russia has choked throughput on a Caspian Sea pipeline carrying crude oil from the Tengiz fields in Kazakhstan to Russia’s Black Sea coast. Russian officials say they were forced to throttle throughput in the 1.4M bpd capacity pipeline after a related port was severely damaged due to weather conditions. They also said it could take up to 2 months to repair the damage, seemingly blaming Western sanctions for that in another veiled threat to energy markets. This pipeline pushes over 60% of Kazakhstan’s oil…