Organization Of The Petroleum Exporting Countries (OPEC) Expects Russian Oil Supply In 2019 To Grow To Average 11.17Mln Barrels Per Day

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Organization of the Petroleum Exporting Countries (OPEC) Expects Russian Oil Supply in 2019 to Grow to Average 11.17Mln Barrels Per Day

The Organization of the Petroleum Exporting Countries (OPEC) expects Russia's oil production in 2019 to reach an average of 11.17 million barrels per day (mb/d), according to the organization's report published on Wednesday.

MOSCOW (UrduPoint News / Sputnik - 12th September, 2018) The Organization of the Petroleum Exporting Countries (OPEC) expects Russia's oil production in 2019 to reach an average of 11.17 million barrels per day (mb/d), according to the organization's report published on Wednesday.

"For 2019, yearly growth of 0.02 mb/d is expected for Russia's oil supply, to average 11.17 mb/d.

In 2019, Russian oil supply companies have the potential to increase production through green field development. However, new incremental production will be partially offset by declines occurring in mature fields. Incremental production of oil, NGLs and condensate could come from several projects, such as Uvat, East-Siberian, Vankorneft, Messoyakha and Yamal LNG," the OPEC monthly oil market report reads.

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