Oil Production In Russia To Decrease By 9.3% In 2022 - Economic Development Ministry

Sumaira FH Published May 18, 2022 | 10:33 PM

The oil production in Russia will decrease by 9.3% year-on-year in a basic scenario forecast made by the Economic Development Ministry and published on Wednesday

MOSCOW (UrduPoint News / Sputnik - 18th May, 2022) The oil production in Russia will decrease by 9.3% year-on-year in a basic scenario forecast made by the Economic Development Ministry and published on Wednesday.

The ministry added that the oil production will fall to 475.3 million tons, while gas production is expected to fall by 5.6% to 720.

9 billion cubic meters.

In addition, the ministry said that gas exports will fall by 10% to 185 billion cubic meters this year, while exports of LNG will increase by 5.5% and reach 30.7 million tons. At the same time, the ministry expects oil exports to fall by 1.2% to 228.3 million tons and oil product exports to decrease by 20% to 115.3 million tons.