Russia back to growth, of a kind
Petroleum supplies to the international market should rise in 2018
We expect further production growth from Russia's oil sector in 2018. Despite the oil price, which remains relatively low, technological and financial sanctions against Russia, which were strengthened in 2017, and the deal with Opec to cut production, which curbed Russian supply last year, 2018 will bring more oil. It will be the resumption of the trend. Between 2012 and 2016, Russian oil output rose by 6%, from 10.4m barrels a day to 11m b/d. And according to our estimates, in 2018 the number should increase to around 11.4m b/d. It's not all straightforward, because the producing profile has been changing over recent years. Oil production in older fields, the brownfields, fell by 5% (or 400
Also in this section
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
14 May 2024
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
14 May 2024
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy