TYUMEN (Sputnik) – Russia’s Ministry of Energy is keeping its oil output forecast for this year at 540-545 million metric tonnes (595-600 million US tons), Deputy Energy Minister Kirill Molodtsov said Wednesday.
“I said back in May that our forecast is approximately 544 million tonnes. I cannot say exactly now, but the forecast is kept close from 540 to 545 million tonnes trending toward growth,” Molodtsov told reporters.
On September 12, the Organization of the Petroleum Exporting Countries (OPEC) said in its Monthly Oil Market Report that Russian oil output was expected to reach an average of 10.99 million barrels of oil per day in 2016.
