Russia Oil Supply - April 2016

Source: OPEC 5/12/2016, Location: Asia

Russian oil production is estimated to have grown by 0.17 mb/d in 2015 to average 10.85 mb/d, revised up by 20 tb/d from the previous MOMR, due to upward revisions in historical production data in all of the first three quarters. Russia’s oil supply for March reached 11.03 mb/d, up by 30 tb/d m-o-m, following growth from some fields operated by Novatek, Bashneft, Gazpromneft and Tatneft, according to Energy Aspects. Nevertheless, according to the latest review on the most prolific fields in Russia, oil supply in 2016 will decline by 20 tb/d to average 10.83 mb/d.

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