MOSCOW, January 30. /TASS/. Russia’s oil production decreased to 516 mln tons in 2024, while its exports totaled 240 mln tons, Deputy Prime Minister Alexander Novak wrote in the article for the Energy Policy magazine.
"Oil production amounted to 516 mln tons in 2024, while exports equaled 240 mln tons. Russia maintains its status of one of the world’s leading oil producers and it is a key participant of a longstanding agreement on oil output reduction between OPEC+ members, which allows responding promptly to market changes and ensuring the demand and supply balance," he said.
Novak said earlier that Russia’s oil and gas condensate production slipped by 1% in 2023 to around 530 mln tons, which brings the possible decrease in 2024 output to 2.7%.