OPEC Maintains Forecast For Russia's 2023 Oil, Condensate Output At 10.3Mln Bpd - Report

MOSCOW (UrduPoint News / Sputnik - 13th April, 2023) OPEC has maintained its forecast for Russia's oil and condensate production in 2023 at the level of 10.3 million barrels per day and still expects it to decline by 750,000 barrels per day, according to the organization's fresh report published on Thursday.

"For 2023, Russian liquids production is forecast to drop by 0.

75 mb/d to average 10.3 mb/d. It is worth noting that this expected contraction accounts for the recently announced additional voluntary production adjustments to the end of 2023. Annual growth is remained unchanged from the previous monthly assessment. In addition to a number of planned start-ups this year by Lukoil, Gazprom, Novatek, Sigma Energy and others," the report read.