OPEC Expects Russia's Liquids Production To Grow To 10.63Mln Barrels Per Day In 2021


OPEC Expects Russia's Liquids Production to Grow to 10.63Mln Barrels Per Day in 2021

MOSCOW (UrduPoint News / Sputnik - 10th June, 2021) The Organization of the Petroleum Exporting Countries (OPEC) improved its forecast for Russia's oil and gas condensate production in 2021 and expects it to increase by 0.03 million barrels per day to an average of 10.63 million barrels daily.

In its May report, OPEC said Russia's liquids production would total 10.61 million barrels daily.

"Russia's liquids supply in 2021, following a decline of 1.02 mb/d in 2020, is expected to see growth of 0.03 mb/d in 2021 to average 10.63 mb/d," OPEC said in its monthly oil market report.

"Preliminary liquids production for May is estimated at 10.75 mb/d. With this, Russia's liquids production in 2Q21 has been revised up by 49 tb/d to average 10.71 mb/d, while the liquids supply forecast remains unchanged at 10.66 mb/d for 2H21," the report read.

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