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Russia Expecting Oil Output Bump

December 6, 2019

(File photo: Lukoil)

Russia still expects an increase in 2019 oil output to a record 556-560 million tonnes from 555.8 million tonnes produced in 2018, Energy Minister Alexander Novak told the ministry's magazine, in comments published on Thursday.

That would mean production would reach between 11.17-11.25 million barrels per day, up from 11.16 million in 2018.

Novak also said that Russian natural gas production is expected to edge up by 2% to 740 billion cubic meters, while coal output and exports are seen unchanged from 2018 levels, at 440 million tonnes and 210 million tonnes respectively.

(Reporting by Vladimir Soldatkin; Editing by Elaine Hardcastle)

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