BAKU, Azerbaijan, December 13. Russia’s crude production is expected to decline by 0.4 million barrels per day, averaging 10.6 million barrels per day, in 2023, Trend reports.
According to the latest report from OPEC, in October, Russia's liquids production saw a month-on-month increase of around 55,000 barrels per day, reaching an average of 10.9 million barrels per day. This comprises 9.5 million barrels per day of crude oil and 1.4 million barrels per day of NGLs and condensate.
The bloc noted that this forecast remains largely consistent with the assessment from the previous month, considering all announced production adjustments by the countries in the DoC until the end of 2023 and 2024.
Moving into 2024, Russian liquids production is anticipated to hold steady compared to the previous year, averaging 10.6 million barrels per day.
Despite project ramp-ups in various oil fields and start-ups by Rosneft, Russneft, Lukoil, Gazprom, Neftisa, and TenderResurs, the overall increase in liquids production is expected to be counterbalanced by declines at mature fields.