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Russia Targets 520-530mln tons of Oil Production 2024

OIL

Russia's oil output in 2024 is expected to reach 520-530 mln tons compared to over 530 mln tons last year according to Deputy PM Alexander Novak Tuesday.

  • "I think we will have a 520 or 530 [mln tons] range this year," he said.
  • Novak added that currently production in Russia is around 9.5mn bpd, which corresponds to the OPEC+ agreement.

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