Highlights Oil forecast at about $75/b in 2022 Gas output to rise 10% in 2021 Country pushes for Nord Stream 2 certification by mid-2022 Russia’s production of crude and condensate in 2022 is expected to rise by 5% on the year to about 540 million-550 million mt, or up to 11.045 million b/d, deputy prime minister Alexander Novak said Dec. 24.
The country’s oil production is set to reach the pre-pandemic level by May next year, he previously said, as the OPEC+ alliance continues to increase output monthly to meet rising demand. In 2021, Russia’s production of crude and condensate will increase by 2.1% on the year to total 524 million mt, or 10.52 million b/d. “We expect to reach the level from which we began to cut output by May, and our industry will produce 540 […]