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Russia’s Dec oil output hits post-Soviet high

by ChemOrbis Editorial Team -
  • 04/01/2016 (11:43)
According to media reports, Russia’s oil production in December reached the highest levels seen since the collapse of the Soviet Union, exceeding the previous record in November. The country’s crude and gas condensate production increased by 0.4% to 10.825 million barrels of oil per day (bpd) in December.

The country’s 2015 oil production increased 1.4% to average more than 10.72 million bpd, according to preliminary data from Russia’s Energy Ministry. According to the data, Russia’s crude oil exports rose to 5.25 million bpd in 2015. The country’s oil supplies to countries outside the former Soviet Union rose 11% to more than 4.42 million bpd.

The Russian government reportedly does not expect to see decrease in oil production this year, claiming that previous oil investments will continue to support production in 2016.
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