IEA Sees Rising Supply as Russia Dodges Sanctions Once Again

If you thought Russia’s oil industry would finally take a hit from Washington’s latest round of sanctions, think again. According to the International Energy Agency (IEA), Moscow is already crafting new workarounds, keeping its oil flowing despite restrictions that were supposed to tighten the screws. The IEA, which has had to revise its Russian supply forecasts more times than it cares to admit, now says the country’s crude output actually rose by 100,000 barrels per day (bpd) in January, hitting 9.2 million bpd. Sanctions, it…