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Russia to produce 574 mln tonnes of oil in 2016

Russia will produce 547 mln tonnes of oil this year versus over 534 mln tonnes produced in 2015, department director of the Energy Ministry Alexander Gladkov told reporters.

“We plan 547 mln tonnes this year; the plan for the next year was 548 mln tonnes net of agreements on reduction,” the official said.
Russia will increase oil production in 2016 by 10-12 mln tonnes as compared to the last year, Energy Minister Alexander Novak said earlier. Oil production in Russia is expected to reach 548 mln tonnes in 2017, he added.
Source: TASS

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