Russian oil and gas condensate production went from 10.89 million barrels per day in November to 10.90 million barrels per day in December, according to “Reuters” calculations, based on an Interfax report on Sunday. based on data from the Ministry of Energy.
Interfax said total oil and gas condensate production reached 46.11 million tons last month, up from 44.56 million tons in November.
Russian Deputy Prime Minister Alexander Novak said the “OPEC +” alliance will continue to increase supplies to meet the growing demand for oil.
Novak added that the volatility of the oil market is not very high at the moment.
On his expectations for the coming year, the Russian Deputy Prime Minister said that his country expects a resumption of the balance between supply and demand in the global oil market in 2022.
The “OPEC +” group maintained its plans to increase production forecast for January to 400,000 barrels per day, but gave itself room to be flexible and adjust production as needed.
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