MOSCOW, Dec 23 (PRIME) -- Russia’s oil and gas output can fall to 10.6 million barrels a day after a peak in 2014–2015 but by 2035 it will grow to 10.8 million barrels and will remain at this level at least until 2040, OPEC reported in its World Oil Outlook 2015 published Wednesday.
“Total production in Russia has been in a sustained growth pattern for several years. It grew from 10.3 million barrels daily in 2010 to 10.7 million barrels daily in 2014. It is likely that the impact of lower oil prices – as well as U.S. and E.U. sanctions – on the growth trend will remain modest,” OPEC said.
The 2015 oil output is expected to stand at 10.7 million barrels daily and the 2016 one at 10.6 million barrels daily.
The output of hard-to-recover oil will rise to 180,000 barrels a day by 2025 and to 400,000 barrels by 2040.
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