Oil production in Siberia
Russia may defy production capacity doubters
The OPEC+ producer could bring significant idle barrels to the market in the next 12 months
Some experts are sceptical Russia can bring back many barrels should OPEC+’s group of voluntary producers continue to unwind production cuts. But the country’s more-than-adequate oil reserves, high and rising levels of drilling, increasing amounts of advanced production techniques and possession of a potentially world-class greenfield project in Vostok Oil means there is reason to be upbeat. Russia could add up to 800,000b/d on short notice, and perhaps substantially more on a five-year horizon. In April 2025, key producers within OPEC+ began rolling back 2.5m b/d of ‘voluntary’ production cuts. As of September, this process was completed, allowing Russia to increase its oil output from 10m
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
