Oil production in Russia to decrease by 6-7% in 2023 - Alexander Novak

Oil production in Russia is forecasted to decrease by 6-7% in 2023, Deputy Prime Minister Alexander Novak said after the 33^rd OPEC and non-OPEC Ministerial Meeting.

" A slowdown in the global economy could lead to a reduction in both the consumption of raw materials and investment in the oil and gas industry. The forecast for a decrease in Russian oil production is less significant – in 2023 it will be 93-94 percent of 2022 levels", said Deputy Prime Minister Alexander Novak.

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