The level of oil production in Russia reached a new record

In October 2016, Russia produced 47,386 million tons of oil, which is 3.9% higher than October of last year, informs “Interfax” with reference to the summary jurisdiction of the energy Ministry’s Central dispatching Department of fuel energy complex (CDU TEK).

The daily average oil production in October exceeded 11.2 million barrel. that became a new absolute record for the post-Soviet Russia. Above $ 11 million bbl. the daily volume of oil production in Russia for the first time since 1991, rose in early September 2016.

Earlier, analysts at Goldman Sachs published a forecast according to which the average daily oil production in Russia by the end of 2016 will increase to 11.21 million barrels., 1.35% higher than the previous year. According to the OPEC forecasts, oil production in Russia in 2016 will increase to approximately 1.74%.

According to the forecast, in 2017, the daily level of oil production in Russia will grow to 11.41 million barrels., and by the end of 2018 to 11.65 million barrels. Thus, in 2018 the Russian oil industry can beat the best Soviet oil: the most successful for them in 1987 in the fields of the RSFSR was produced by of 11.42 million barrels. a day.

In General, during the first ten months in Russia produced 454,116 million tons of oil and gas condensate, which is 2.2% more than in January—October of 2015. With about a third of total production even without taking into account purchased in mid-October, Bashneft accounted for Rosneft (157,84 million tons, including 16,369 million tonnes in October).

Oil production in Russia is growing amid reports about the readiness of the authorities to freeze its volume under the agreement with Saudi Arabia and other OPEC countries on joint efforts to restore balance in the world oil market.