Russia to increase oil export in 2017

The oil export from Russia is expected to reach more than 2016's estimated total of 253.5 million tonnes (roughly 279.4 million tons) in 2017, which is an almost 5-percent increase since 2015, Russian Deputy Energy Minister Kirill Molodtsov said.

"Supposedly 253.5 million tonnes of oil are expected to be exported from Russia this year, which is 4.8 percent more than in 2015. In 2017, we will have a little more than this," Sputnik cited Molodtsov as saying.

The deputy minister added that the export levels depended on the implementation of the oil output deal initiated by the Organization of the Petroleum Exporting Countries (OPEC).