The possibility of cheaper gas costs for Kenyans in the near future has been dimmed by Russia’s decision to drastically reduce its oil production starting in the following month.

According to Deputy Prime Minister Alexander Novak, Moscow announced on Friday that it will begin cutting its oil production by 500,000 barrels per day, or around 5% of its total output, in March.

Although it is unknown whether Moscow will send oil shipments to Kenya, analysts said the decline in Russian oil production will increase competition for barrels from other regions, such as the Middle East, Kenya’s top supplier, which Europe, the UK, and other Western nations now desperately need.

According to The Standard, Murban crude oil from Saudi Arabia, which makes up a significant portion of the refined petroleum products imported to Kenya, was trading at $85 (Sh10,630) per barrel on Friday.

The US consumes a significant amount of the oil that Russia produces, making it the world’s third-largest oil producer after the US and Saudi Arabia and its second-largest exporter after Saudi Arabia.

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