The US Department of Energy Predicts that Oil Production in Russia will Decrease in 2023
The US Department of Energy predicts that oil production in Russia in 2023 will decrease by an average of 300 thousand barrels per day, and will not change in 2024, follows from the monthly short-term forecast of the Energy Information Administration (EIA) of the department.
“We expect oil production in Russia to decline by an average of 300 thousand barrels per day this year and remain relatively unchanged in 2024,” the report says.
According to the attached materials, Russian oil and condensate production in 2023 will amount to 10.64 million barrels per day, which is 0.3 million barrels per day less than in 2022. Production in 2024 will be reduced to 10.6 million barrels per day, that is, by only 40 thousand barrels per day compared to the previous year.
