OPEC Downgrades Forecast For Russia's 2020 Liquid Hydrocarbon Production To 11.48 Mln Bpd

OPEC has downgraded its forecast for Russia's 2020 liquid hydrocarbons production to 11.48 million barrels per day from the previous estimate of 11.5 million barrels per day, the organization said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 15th January, 2020) OPEC has downgraded its forecast for Russia's 2020 liquid hydrocarbons production to 11.48 million barrels per day from the previous estimate of 11.5 million barrels per day, the organization said on Wednesday.

"For 2020, Russia liquids supply is expected to grow by 0.04 mb/d y-o-y to average 11.

48 mb/d, despite downward adjustments for crude oil production by 300 tb/d from the October 2018 benchmark for 1Q20 to average 11.27 mb/d," OPEC said in its monthly report.

Meanwhile, OPEC reviewed upwards its forecast for Russia's 2019 oil production, bringing it to 11.44 million barrels per day from 11.43 million barrels per day, outlined in the previous report.