Report: Russia’s 2019 oil production to rise by 2 mln tonnes

MOSCOW, Dec 14 (PRIME) -- Russia’s oil output will grow by about 2 million tonnes despite the country’s participation in the OPEC+ production cut deal, under which it is supposed to slash output at least until April, CEO of oil pipeline monopoly Transneft Nikolai Tokarev told channel Rossiya 24 in an interview broadcast on Friday.

“Our most recent statistics show that … oil production in Russia will grow in 2019 by about 2 million tonnes. This means that it does not decrease despite our agreement with OPEC,” he said.

He also said that Russia’s oil exports fell by 5 million tonnes in 2018, including due to participation of the country in the OPEC plus nonmember oil output reduction deal.

“Oil exports have in fact fallen by about 5 million tonnes. Not only due to objective reasons but due to the OPEC plus agreement,” Tokarev said.

He also said that exports of oil products, mainly diesel fuel, edged up, by 0.7 million tonnes.

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