Russia's oil supply in 2019 is expected to increase by 140,000 barrels per day to an average of 11.49 million barrels daily, a monthly report of the Organization of the Petroleum Exporting Countries (OPEC) showed Thursday
MOSCOW (Pakistan Point News / Sputnik - 17th January, 2019) Russia's oil supply in 2019 is expected to increase by 140,000 barrels per day to an average of 11.49 million barrels daily, a monthly report of the Organization of the Petroleum Exporting Countries (OPEC) showed Thursday.
"Russian oil supply in 2019 is likely to grow by 0.14 mb/d to average 11.49 mb/d," the report read.
According to the OPEC forecast, Russian oil producers can "potentially further increase production through greenfield development. Incremental production of oil, [natural gas liquids] NGLs and condensate could come from several projects, such as Uvat, East-Siberian, Vankorneft, Messoyakha and Yamal LNG."
"However, Russian oil supply in 1H19 is expected to be adjusted down to average 11.47 mb/d, compared to the production level of October 2018," the report said.
