Russia Petroleum, Energy Liquids Output Seen At 9.9Mln Barrels Daily In 2023 - US EIA

Russia Petroleum, Energy Liquids Output Seen at 9.9Mln Barrels Daily in 2023 - US EIA

Russia's production of petroleum and other energy liquids is expected to average 9.9 million barrels per day this year, down 1.1 million from 2022, the US Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday

WASHINGTON (Pakistan Point News / Sputnik - 07th February, 2023) Russia's production of petroleum and other energy liquids is expected to average 9.9 million barrels per day this year, down 1.1 million from 2022, the US Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday.

"Our forecast for Russia's 2023 production is 0.4 million b/d more than in the January STEO because crude oil liftings data suggest that Russia's exports have remained higher than we expected following the EU's ban on seaborne imports of crude oil from Russia that began on December 5," the EIA said.

The EIA, which serves as the statistical arm of the US Energy Department, also said that it expected Russian oil production to taper in the later part of the year.

"We still forecast Russia's oil production to fall in the coming months, as we expect the EU's ban on seaborne petroleum products from Russia that began February 5 will cause refineries in Russia to reduce crude oil inputs, which will disrupt crude oil production," the EIA added.