Oil production in Russia in 2024 may remain at the level of 2023

The Russian Ministry of Energy predicted oil production in 2024 at the level of last year. This was announced by the head of the ministry Nikolai Shulginov.

“We forecast at last year’s level approximately“, he said in a conversation with reporters.

According to Shulginov, in addition to resource extraction, it is necessary to develop hard-to-recover reserves, as well as implement OPEC recommendations.

As the head of the Ministry of Energy emphasized, there is currently no specific production plan.

Earlier, in December, Bloomberg reported that oil refining volumes in Russia reached a new high since early April. Western experts tracked the number of shipments by sea, as well as the intensity of work of Russian factories, and found that our country is now processing hundreds of thousands of barrels per day more than a year ago. According to the channel, production rates have continued to increase in recent weeks.