Crude oil production in Russia in May was down 2.5%
Crude oil exports from Russia in January – May 2022 declined by 12.6% to 102.7 million tonnes, a study of the Institute for Natural Monopolies Research (IPEM) shows. Crude oil production in Russia in May 2022 was down 2.5% to 43.1 million tonnes.
The oil production declines for the second month in a row. The relatively small decline is exacerbated by last year’s “low base”. At the same time, OPEC + decided to increase the rate of recovery of oil production under the deal from 432 000 barrels to 648 000 barrels per day for the period of July-August due to growing demand for crude oil from the world market.
Crude oil production in Russia in May was down 2.5%
Crude oil exports from Russia in January – May 2022 declined by 12.6% to 102.7 million tonnes, a study of the Institute for Natural Monopolies Research (IPEM) shows. Crude oil production in Russia in May 2022 was down 2.5% to 43.1 million tonnes.
The oil production declines for the second month in a row. The relatively small decline is exacerbated by last year’s “low base”. At the same time, OPEC + decided to increase the rate of recovery of oil production under the deal from 432 000 barrels to 648 000 barrels per day for the period of July-August due to growing demand for crude oil from the world market.
