Russia’s crude production to decline to 515 mln tonnes in 2022, 490 mln tonnes in 2023

TASS Russian News Agency | Sep 22, 2022 at 5:09 PM

MOSCOW, September 22. /TASS/. Russia's crude oil production may decrease to 515 mln tonnes in 2022, and to 490 mln tonnes in 2023, according to main areas of the country's budget, taxes and customs-tariff policy for 2023 and the planned period of 2024 and 2025 (obtained by TASS).

Oil production in 2024-2025 is expected at an average of around 500 mln tonnes each year.

The decrease is due to the refusal of a number of countries to cooperate with Moscow in the oil sector, as well as the discount for sales of Russia's main exports.

Last year Russia produced 524 mln tonnes of oil, up by 2.1% compared with the previous year.