ZCZC
BCN-24
RUSSIA-ENERGY-OIL
Russia to produce more than 550 mln tonnes of oil in 2018
VIENNA, June 25, 2018 (BSS/TASS) – Oil production in Russia in 2018 could rise
to more than 550 mln tonnes, taking into account the decision of OPEC+ to
increase production, Russian Energy Minister Alexander Novak told reporters.
“I think it will be 550 mln tonnes,” he said.
Novak added that Russia will be able to increase oil production by 170,000
barrels per day thanks to the decision of OPEC+. “Maybe 170,000, maybe
180,000 barrels per day,” he said, noting that Russia is unlikely to add this
volume in July, it is likely to be achieved in the Q2. “Everything will
depend on how quickly they can prepare for the recovery,” he said.
According to him, the Ministry of Energy will consider equal opportunities
for production growth for all Russian companies. “We will continue to
consider equal opportunities for all companies,” Novak said.
BSS/TASS/HR/1325