OPEC: Russia’s oil output may fall 1% to 10.9 mln bpd in 2017

MOSCOW, Nov 8 (PRIME) -- Russia’s oil and gas condensate output may decrease 1% to 10.9 million barrels per day in 2017, OPEC said in its World Oil Outlook on Tuesday.

Russia’s daily oil output may remain at 10.9 million barrels in the period from 2017 until 2019 and may fall to 10.8 million barrels in 2020. But in 2025–2040, Russia will be producing 10.9 million barrels daily.

The global oil demand will increase 17.6% over the period between 2015 and 2040 to 109.4 million barrels daily. The majority of the increase will be compensated by higher output of OPEC states with their market share rising to 37% from 34%.

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