OPEC expects Russia's oil output to fall to 10.1 mln bpd by '28

MOSCOW, Oct 9 (PRIME) -- OPEC expects Russia's oil and gas condensate production to shrink to 10.1 million barrels per day (bpd) by 2028, the organization said in an annual report World Oil Outlook (WOO) on Monday.

The output is to stand at 10.4 million bpd in 2023 and 2024 after 11 million bpd in 2022, OPEC said.

Russia is to raise liquid hydrocarbon production again in the mid-2030s with a decline to 10.5 million bpd by 2045.

OPEC's oil production may rise to 46.1 million bpd in 2045 from 34.2 million bpd in 2022. Global output may grow by 16 million bpd from 2022 to 116 million bpd by 2045.

OPEC expects global oil demand to increase by 10.6 million bpd from the 2022 level to 110.2 million bpd by 2028 and to reach 116 million bpd by 2045.

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