Russia's oil output could peak in 2023.

Russia, the world's third-largest oil producer, has long been an unknown when it comes to the OPEC+ production agreement which caps the petroleum output of participants to support higher prices. It was Moscow's spat with Saudi Arabia over production quotas in early 2020 which, combined with the emergence of the COVID-19 pandemic, caused crude oil prices to plunge into negative territory for the first time ever. The North American benchmark West Texas Intermediate plunged to minus $37.63 per barrel before recovering, while Brent did not enter negative territory the international benchmark, plunged to an intraday low of less than $15 per barrel. During that time Moscow, Riyadh and other OPEC+ signatories were finally able to agree on production quotas...