Russia’s oil production in October 2021 will total 9.9 mln barrels per day, Deputy Prime Minister Alexander Novak said at the Russian Energy Week on Thursday, adding that there are no issues with boosting output, Trend reports with reference to TASS.
"Today we produce 9.9 mln barrels per day, will produce in October assuming the plans and quotas within our OPEC+ agreement," he said.
Russia’s maximum crude production has reached 11.3-11.4 mln barrels per day, Novak said, adding that the country has no issues with boosting output, but it is necessary to be guided by the market situation. "The development of technologies is currently underway, we have huge resources of not only traditional, but the so-called tight oil. If additional volumes are required, we will be able to ensure the development of such reserves," Deputy PM explained.
Russian Energy Week International Forum, which takes place in Moscow on October 13-15, serves as a platform for discussing the main challenges faced by the energy sector. The forum is being held to demonstrate the prospects of the Russian fuel and energy industry and unlock the potential of international cooperation in energy. This year the forum contains more than 30 business events, with heads of more than 200 companies from various sectors of the fuel and energy complex, from oil and gas, coal and electric power complexes, expected to participate.