Fitch Ratings: oil production in Russia to fall because of sanctions

In 2016, oil production in Russia will decrease because of the sanctions of the European Union and the United States. According to Prime, this prediction was made by the international rating agency Fitch. According to the agency’s analysts, the decline in the oil production in Russia be will also contributed by the limited access to international finance and low oil prices.

However, according to the Fitch’s ratings, the credit profiles of Russian oil and gas companies should remain stable, despite the low oil prices, due to the progressive taxation and flexibility of the ruble, the agency reports.