‘Rosstat’ has stopped publishing data on oil production in Russia, the report on industrial production in the first quarter of 2023 presented on Wednesday. Previously, the agency provided monthly production data with and without gas condensate, but this statistics is not available in the current report. ‘Rosstat’ did not comment on her exclusion. The Ministry of Economic Development of the Russian Federation also did not disclose a number of data in its macro forecast for 2023-2026, including the forecast for oil production. According to the International Energy Agency (IEA), oil production in the Russian Federation in March amounted to 9.58 million b/d (excluding condensate), which is 290 thousand b/d lower than in February. However, yesterday, at a briefing after a meeting of the Board of Trustees of the Moscow Energy Institute, Russian Deputy Prime Minister Alexander Novak, said that this year Russia will reduce oil and gas condensate production to 515 million tons, 20 million tons less than in 2022. According to him, the export of oil and petroleum products from Russia to Europe in 2023 will fall by 2.5 times, and 140 million tons of raw materials will be redirected to Asian markets.

Source: TURAN News Agency