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Daily oil production in Russia has grown to a historic high

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Daily oil production in Russia has grown to a historic high

Daily oil production in Russia has grown to a historic high
September 21
15:00 2016

The level of the daily oil production of the Russian Federation has jumped to a new historical maximum. According to the statement of Deputy Minister of Energy Kirill Molodtsov, which he made at the VII Tyumen Oil and Gas Forum, the production level had amounted to 11.75 million barrels per day.

Molodtsov said: “Russia has reached a historic high in September. We are producing more than 11 million barrels per day. As of yesterday, the production volume amounted to 11.75 million barrels.”

Meanwhile, Russia, dealing with states of the OPEC, once again raises the issue of the oil freeze. Earlier this month Russian Energy Minister Alexander Novak and Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of the Saudi Arabia, announced about joint actions to stabilize the oil market. Later, Novak gave an explanation that the document (application) could afford to freeze the oil production.

Molodtsov also noted that the clear trend towards the stabilization of supply and demand on the oil market was currently noticeable. ” In August and October last year we saw an excess of raw material supply over the consumption. This proposal is being actively “eaten” now “- Molodtsov said.

In addition, the official said: “The price will behave accordingly: the demand will be met by the increasing supply. And the second, the people who work in the industry will have to provide this demand.”

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