Russian Oil Output Seen Stable Despite Toughest Spell in 5 Years

Russia’s oil output and exports will remain steady this year even as the industry goes through its most challenging period since the Covid-19 pandemic, according to a Moscow-based consultant.

The nation’s production of crude and condensate is expected to remain flat at 10.3 million barrels a day this year and increase to 10.4 million barrels a day in the next two years, Kasatkin Consulting said in research sent by email on Wednesday. Exports should hold at 4.8 million barrels a day, according to the firm, which employs some former Deloitte staff in the region.