Liquid hydrocarbons production in Russia can grow in 2022 by 0.77% or by 80,000 barrels daily against 2021 and reach 10.88 mln barrels daily, the Organization of Petroleum Exporting Countries (OPEC) said in its August report.
OPEC expected production of oil in Russia will drop by 1.6% to 10.63 mln barrels daily in its previous forecast.
The Organization at the same time expects liquid hydrocarbons production in Russia will tumble 3.36% to 10.52 mln barrels daily in 2023.
In June 2022, Russia scaled up production by 520,000 barrels daily to 11 mln barrels per day in average, OPEC said. Crude oil and condensate account for 9.8 mln barrels daily, while the share of natural gas liquids (NGL) stood at 1.2 mln barrels per day. Oil production in July 2022 increased provisionally by 58,000 barrels per day to 9.9 mln barrels daily.
