Energy Ministry expects Russia’s oil output at 512 mln tns in 2021

MOSCOW, Aug 10 (PRIME) – Russia will produce 512 million tonnes of oil and gas condensate and export 220–230 million tonnes of oil in 2021, Deputy Energy Minister Pavel Sorokin said on Tuesday.

"Russia expects oil output to remain at 512 million tonnes this year due to the production restrictions from the OPEC plus deal, after 512.8 million tonnes produced in the leap year of 2020. We also expect exports to decline to about 220–230 million tonnes from almost 239 million tonnes respectively," Sorokin said.

He added that Russia will likely return to the pre-crisis output levels in 2022 depending on further OPEC+ rulings.

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