Moscow: In 2025, oil production with condensate in Russia will amount to 516 million tons, which is slightly lower than last year’s 516.1 million tons, APA-Economics reports citing Russia’s Ministry of Economic Development.

According to Azeri-Press News Agency, the main scenario anticipates oil production with condensate to rise to 525.2 million tons in 2026, 532.6 million tons in 2027, and 540 million tons in 2028. Under the conservative scenario, production volumes are expected to remain at the same level. The production estimate for 2025 has been slightly reduced compared to the forecast in September, which was 518.6 million tons, while the forecasts for 2026-2027 remain unchanged.

The gas production estimate in Russia for 2025 has been confirmed at the level of 695.4 billion cubic meters. The macro forecast indicates that in 2023, production amounted to 684 billion cubic meters, with Rosstat data showing 637.6 billion cubic meters. The macro forecast released last September set the 2025 estimate at 695.4 billion cubic meters under the main scenario and 659.8 billion cubic meters under the conservative scenario.

The new forecast suggests that gas production in Russia will reach 709.1 billion cubic meters in 2026, 729.7 billion cubic meters in 2027, and 750.9 billion cubic meters in 2028.