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Current location:HOME>> News>> Industry News>> Russia to Increase Domestic Oil Production in 2016
Russia to Increase Domestic Oil Production in 2016
AUTHOR:admin PUBLISHED:2016-09-12 CLICK:正在读取

Russian oil production fell to a 13-month low in August, according to the London-based Energy Aspects. Citing official data, the analysts say that production was 10.71 million barrels a day last month. Oil exports also fell to a 2016 low of 4.31 million b/d, just 100,000 b/d higher than August 2015.

The think-tank adds that the lower Russian production was a result of a 22-day maintenance shutdown at the 250,000 b/d Sakhalin-1 field. Russia will increase crude oil production to a new record of 544 million tons in 2016, Energy Minister Alexander Novak said Friday.

A commitment to increase oil production by 10 million tons compared with 2015 levels comes amid Moscow's calls to freeze global production. President Vladimir Putin called on oil-producing countries to cap production levels at a meeting later this month, saying "it was the right decision for world energy."

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