IEA: Russia’s Aug oil output falls by 170,000 bpd to 10.96 mln bpd

MOSCOW, Sep 14 (PRIME) -- Oil and condensate production in Russia fell by 170,000 barrels per day in August to 10.96 million barrels per day, the International Energy Agency (IEA) said in a report on Wednesday.

The output is likely to gradually decline further in September–November, to be followed by a stronger drop in December when the E.U. embargo on Russian oil takes effect, the agency said.

As a result, Russia’s average output in 2022 will amount to 10.9 million barrels per day, which is around the level of 2021, the agency said.

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