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Russia’s oil output to total up to 515 mln tons in 2024 — Novak

OPEC+ nations decided earlier on partial gradual recovery of voluntary output cuts starting October 2024

ST. PETERSBURG, June 6. /TASS/. Russia’s oil production is expected at 505-515 mln tons in 2024, Deputy Prime Minister Alexander Novak told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"I think that [production] will total approximately from 505 to 515 mln tons, I think closer to 515 mln tons," he said, adding that more precise figures would be provided at the end of the year.

OPEC+ nations decided earlier on partial gradual recovery of voluntary output cuts starting October 2024.

The St. Petersburg International Economic Forum (SPIEF) is being held on June 5-8. This year’s theme is "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.

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Alexander Novak

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