MOSCOW, September 13 – PRIME. OPEC has maintained its forecast for a slight increase in liquid hydrocarbon production in Russia (oil, gas condensate and other gas condensate liquids) in 2022 and still expects a decrease in the figure by 0.4 million barrels per day in 2023, the organization says in a monthly report.
“Liquids production in Russia is projected to grow by 80,000 bpd in 2022, to an average of 10.9 million bpd, unchanged from last month’s forecast,” the report says.
“As for 2023, the production of liquid hydrocarbons in Russia, according to forecasts, will decrease by 0.4 million barrels per day and will average 10.5 million barrels per day,” concludes OPEC. This forecast is also similar to the previous one.
At the same time, OPEC notes that forecasts for production in the Russian Federation “are characterized by a high degree of uncertainty.”
In August, oil and condensate production in Russia fell by 71,000 bpd to 9.8 million bpd, OPEC estimates. The production of other gas condensate liquids decreased by 119,000 barrels per day, the organization also reports. Liquids production in Russia rose by 36,000 bpd in July to an average of 11.1 million bpd, the report said.