Russian oil production to reach nearly 500 million tonnes by 2026

Russian oil production will total 494 million tonnes in 2026, Economic Development Minister Maxim Reshetnikov said while presenting the socio‑economic forecast for 2027 and 2028-2029.

"We have set the oil production estimate for this year at 494 million tonnes. In 2027, we expect a recovery to 500 million tonnes",

Reshetnikov said.

According to Reshetnikov, output is expected to reach 505 million tonnes in 2028-2029.