The International Energy Agency (IEA) Expects Crude, Condensate Production In Russia To Grow To 11.5 Mb/d In 2019 - Report

The International Energy Agency (IEA) expects crude and condensate output in Russia to stand at 11.2 million barrels per day this year and to increase up to 11.5 million barrels per day in 2019, according to its Oil Market Report issued on Wednesday.

MOSCOW (UrduPoint News / Sputnik - 14th November, 2018) The International Energy Agency (IEA) expects crude and condensate output in Russia to stand at 11.2 million barrels per day this year and to increase up to 11.5 million barrels per day in 2019, according to its Oil Market Report issued on Wednesday.

"While renewed speculation about output curbs and increased financial sanctions on Russia pose risks to the outlook, we expect crude and condensate production to average 11.2 mb/d this year, rising to 11.5 mb/d next year," the report read.

Russian crude and condensate production set another record high in October, rising to 11.4 mb/d, the IEA stressed, adding that month on month increases came from Rosneft, Gazprom Neft as well as Production Sharing Agreements.