Russian security chief calls for cooperation on cyber threatsRussian Politics & Diplomacy May 24, 14:34
About half of Russian Navy warships to be armed with Kalibr cruise missiles by late 2020Military & Defense May 24, 14:31
Stalin’s grandson passes away at 75Society & Culture May 24, 14:26
Russia’s defense minister slams reports on chemical weapons in Syria as 'unreliable'Russian Politics & Diplomacy May 24, 14:11
Stoltenberg admits NATO has no proof of Russia supporting TalibanWorld May 24, 13:34
Russia’s fifth-generation fighter jets to start arriving for troops in 2019Military & Defense May 24, 13:23
We are wide awake, says Russian defense minister about US threat from spaceMilitary & Defense May 24, 13:02
Press review: Manchester terror attack's call to arms and US' push for Assad's ousterPress Review May 24, 13:00
Russian Navy to get seven advanced nuclear submarines by 2021Military & Defense May 24, 12:44
VIENNA, December 23. /TASS/. Oil production in Russia will remain stable with a slight increase to 10.8 mln barrels per day by 2040, according to OPEC global oil forecast until 2040 published Wednesday.
Thus, the total oil production in RussiA in OPEC baseline scenario will remain at the level of 10.6 mln barrels per day in the medium term up to 2020, and by 2025 will reach 10.7 mln barrelsper day, continuing growth in 2040 to around 10.8 mln barrels per day.
According to OPEC experts, declining oil prices and sanctions against the Russian Federation by the European Union and the United States have little effect on the dynamics of oil production in the country.
Decline of price of Brent crude oil from its maximum value in June 2014 is now around 70%. Earlier in December, Brent crude oil became cheaper its lowest level since 2004, falling to around $ 36 per barrel. For comparison, in December 2008, Brent crude oil price declined to $36.2 per barrel, having fallen in price by 75% in 5 months.
Oil prices have accelerated the fall after OPEC meeting on December 4. At the end of the 168th meeting in Vienna, OPEC oil ministers have not made a clear decision on production quotas because of the position of countries that are not members of the organization. Currently, the volume of oil production by OPEC members is estimated at 31-32 mln barrels per day. Previous quota stood at 30 mln barrelsper day.