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Oil production in Russia to fluctuate within 525-545 mln tonnes until 2035 — minister

May 13, 13:41 UTC+3
On Thursday, Alexander Novak said that Russia's oil production in 2016 might exceed 540 mln tonnes
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© Sergei Bobylev/TASS

MOSCOW, May 13. /TASS/. Annual oil production in Russia is going to fluctuate in the range of 525-545 mln tonnes until 2035, Russian Energy Minister Alexander Novak told journalists on Friday.

"Between 525 and 545 mln tonnes - forecasts within this range will be correct," he said.

On Thursday, Alexander Novak said that Russia's oil production in 2016 might exceed 540 mln tonnes. In 2017 the output is expected at 537 million tonnes.

According to the Central Dispatching Department of Fuel Energy Complex, in 2015, Russian oil companies produced a record 534 081 000 tonnes, which is 1.4% higher than a year earlier.

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