MOSCOW, September 22. /TASS/. Oil and gas condensate production in Russia in 2024 may decrease by 0.76% compared to the expected level of this year and amount to 523 million tons, the Economic Development Ministry said in its forecast of socio-economic development of Russia for 2024 and for the planning period of 2025 and 2026.

According to the ministry’s baseline scenario, production in 2023 will decrease by 1.3%, to 527 million tons against 534 million tons in 2022. In 2025, the ministry expects the production to reach 530 million tons and in 2026 it will be 540 million tons.

Meanwhile, according to a conservative scenario, the ministry expects oil and condensate production to be 527 million tons this year, 487 million tons in 2024, 497 million tons in 2025 and 508 million tons in 2026.