The US Department of Energy Raised the Forecast for Oil and Liquid Hydrocarbons Production in the Russian Federation in 2023 by 100 Thousand b/d
The United States has adjusted the forecast for oil and liquid hydrocarbons (LPH) production in Russia for 2023, increasing it by 100 thousand bpd, to 10.73 million bpd, according to the monthly forecast of the US Department of Energy Information Administration (EIA).
A month earlier, department analysts predicted this figure at 10.63 million b/d.
According to the US Department of Energy, the level of oil production in Russia fell significantly after the start of the conflict in Ukraine, but by mid-2023 production stabilized at 10.6 million bpd.
“We expect Russian oil production to remain relatively stable over the remainder of our forecast period, averaging 10.7 million b/d,” the report said.
Next year, the agency expects that the Russian Federation will practically maintain the level of oil and liquid hydrocarbons production at the level of the forecast for 2023 – 10.72 million bpd.
