Russia Maintains Steady Oil Output: Deputy PM Novak Confirms 2024 Levels
Russian Deputy Prime Minister Alexander Novak announced that the country's oil and gas condensate production will remain stable this year, aligning with 2024 levels. This decision underscores Russia's role as a key player in global energy markets, providing clarity on supply expectations.
Insights:
In a statement made to state television on December 25, Russian Deputy Prime Minister Alexander Novak alexander novak confirmed that Russia's crude oil and gas condensate production for the current year will remain essentially unchanged from 2024 levels. The production is expected to hold steady at approximately 516 million tons, equivalent to 10.32 million barrels per day. This announcement provides significant clarity to global energy markets, where Russia is recognized as a major crude oil and gas condensate producer.
