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OPEC raises forecast for Russia’s oil output in 2015 to 10.77 mln barrels/day

According to the report, Gazprom, Bashneft and operators of the PSA (Production Sharing Agreement) remain the leaders in oil production in Russia

© Dmitriy Rogulin/TASS

VIENNA, December 10. /TASS/. The Organization of Petroleum-Exporting Countries (OPEC) has raised its forecast for oil production in Russia in 2015 by 20,000 barrels per day to 10.77 mln barrels per day, according to the organization’s December report.

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OPEC also raised its forecast for oil output in Russia in 2016 by 10,000 barrels per day to 10.7 mln barrels/day.

At the same time the organization still expects the oil output in Russia to decrease by 60,000 barrels/day in 2016 in comparison with 2015.

According to the report, Gazprom, Bashneft and operators of the PSA (Production Sharing Agreement) remain the leaders in oil production in Russia. At the same time, oil production by Lukoil and Rosneft continued to decline.

According to OPEC, in 2015, the largest increase in production is expected in the north of Russia and Eastern Siberia.

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