Russia’s Deputy Prime Minister Alexander Novak has expressed his expectations for this year’s oil production in Russia, one of the world’s leading producers of crude oil, and it comes at a time when Russia is under Western punishment.
Despite Western measures against Russia, Russia’s oil production is expected to decline this year by 5% to 8% compared to last year.
Novak said that oil production in Russia in 2022 is expected to be at the level of 480 – 500 million tons, compared to 524 million tons last year, that is, the indicator will decrease by 5% – 8%. , but expectations may change.
According to data from the Russian Ministry of Economic Development, oil production in Russia in 2021 will reach 524 million tons, and the ministry expects the indicator to decrease by 9.3% to 475.3 million tons, depending on the scenario. basis, and by 17.2% to 433.8 million tonnes, according to a conservative scenario.
Commenting on Russian ministry data, Novak said: “I think the decrease will be smaller (475.3 million tons). We’ve seen a drop of more than a million barrels a day in just one month and, in Reason, I think there will be a recovery in oil production.
Source: RIA Novosti
Source: Arabic RT
