Novak: Russia has room to raise oil output
Read on the website Vestnik KavkazaRussia has not yet reached peak oil output and has room to raise it further, Energy Minister Alexander Novak said today on the sidelines of the Russian Energy Week forum.
"We are expecting this year around 555 million tonnes (of oil production). In our forecasts we can increase output while production-stimulating measures are being discussed," Reuters cited Novak as saying.