Oil production in Russia will increase despite sanctions
2022.12.06 03:13
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Oil production in Russia will increase despite sanctions
Budrigannews.com – The Interfax news agency reported on Tuesday, citing Deputy Prime Minister Alexander Novak, that Russia’s oil and gas condensate for the months of January through November increased by 2.2% over the previous year to 488 million tonnes.
Under an embargo imposed by the bloc, European Union nations that had been the primary buyers of Russian crude for decades stopped buying it from sea ports on December 5.
The Gathering of Seven countries, Australia and the 27 EU states have likewise presented a $60 per barrel cost cap on Russian oil.
According to calculations made by Reuters, Russia produced 10.91 million barrels of oil and gas condensate per day on average from January to November.
Organization sources let Reuters know that Russian oil result could fall by 500,000 to 1 million barrels each day right off the bat in 2023 after the EU boycott.
The Kommersant everyday refering to sources on Tuesday detailed Russia’s November yield found the middle value of 1.486 million tons (10.89 million barrels) each day, up 2% from October.
The newspaper reported that the resumption of production at the offshore Pacific Sakhalin 1 project, which was previously led by ExxonMobil (NYSE:), helped boost output. after Moscow sent troops into Ukraine in February, which abandoned it.
