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Russia cuts its 2015 oil production forecast

2022-10-23

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Russia lowered its 2015 oil production forecast

September 16, 2014

[China paint information] the Russian Ministry of energy said that Russia's oil production will decline slightly next year. As the main source of government revenue, Russia's oil production has increased steadily since 2009

in 2015, Russia's oil production will be 525 million tons (10.54 million barrels per day), lower than the expected value of 525.3 million tons. Last year, Russia's oil production was 523.3 million tons, accounting for 40% of the total national income, reaching the highest level in ISRI's view after the collapse of the Soviet Union

since 2008, affected by the global financial crisis, most countries have launched strategies or planning mechanisms to revitalize the manufacturing industry, Russia's oil production has decreased by 0.6%. In 2009, the government implemented favorable tax and fiscal policies, and the output of smart factories has rebounded steadily

according to the prediction of the Russian government, Russia's oil production last year will resume an upward trend in 2017, reaching 526 million tons by then. Russia plans to produce no less than 10million barrels of oil per day within 10 years