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Russia Forecasts Stable Oil Output To 2025

OIL

Russia's oil production is forecast to remain stable until 2025, while Moscow plans reserves to make its supplies more resilient, Deputy Energy Minister Pavel Sorokin said.

  • "According to current forecasts, oil production will be at a stable level until 2025," Sorokin said.
  • Speaking about plans to set up oil storage, Sorokin said there are various projects under discussion. He said such reserves would increase flexibility of supply, "taking into account the current situation in international markets, high volatility in demand and oil prices".
  • Last month, JP Morgan said Russia would be able to maintain its oil output at pre-Ukraine conflict levels due to steady demand from China and India, but it might struggle to reroute some of its oil product exports away from Europe.
Energy BulletsCommodities
Energy BulletsCommodities

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