Russia's oil production will decline to 515 mln tons in 2023 — Deputy PM

Business & Economy April 27, 2023, 12:54

At the end of 2022, oil production in Russia amounted to 535 million tons, which is 2% higher than in 2021

MOSCOW, April 27. /TASS/. Russia will reduce oil and gas condensate production by 20 million tons to 515 million tons this year, Deputy Prime Minister Alexander Novak told reporters on Thursday.

"The total [production], which we predict, is 515 million tons (together with gas condensate). Compared to last year, we had 535 [million tons], which is minus 20 million tons," he said.

At the end of 2022, oil production in Russia amounted to 535 million tons, which is 2% higher than in 2021. Exports grew by 7%.

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