Official: Russia’s oil output may exceed 544 mln tns in 2016

MOSCOW, Nov 9 (PRIME) -- Russia’s oil and gas condensate output may exceed 544 million tonnes in 2016, Deputy Energy Minister Kirill Molodtsov said at a forum on Wednesday.

Daily output is stable at 11.52 million barrels, he said.

“Companies continue to increase production. We have crossed the mark of 11 million barrels and we are currently stable at 11.52 million barrels. We assume that output will exceed 544 million tonnes this year,” Molodtsov said.

In 2015, Russia’s oil output rose 1.4% to 534.081 million tonnes.

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