Russia produced about 9.2 million barrels per day (bpd) of crude in 2024
Downside risks on demand will likely be greater than supply side risks
Oil prices were little changed on Monday, buoyed by positive economic news from China
Data from the U.S. showed consumer confidence deteriorated at its sharpest pace
Brent futures fell $1.42, or 1.9%, to $75.06 a barrel
Oil prices were down slightly on Friday on prospects for a peace deal between Russia and Ukraine