Russia boosted oil output in May -Vedomosti citing source

Russian oil production including gas condensate grew 5% in May compared with April to 43.1 million tonnes, the newspaper Vedomosti reported, citing an industry source. This would translate into 10.19 million barrels per day using a barrel/tonne rate of 7.33. In the period from January-May, oil production in Russia increased by 3.5% year-on-year to 219.9 million tonnes, while oil exports were up 13% to 102.7 million tonnes, Vedomosti reported.

Russian oil production including gas condensate grew 5% in May compared with April to 43.1 million tonnes, the newspaper Vedomosti reported, citing an industry source. This would translate into 10.19 million barrels per day using a barrel/tonne rate of 7.33.

In the period from January-May, oil production in Russia increased by 3.5% year-on-year to 219.9 million tonnes, while oil exports were up 13% to 102.7 million tonnes, Vedomosti reported. Russia's oil production is expected to decline to 480-500 million tonnes this year from 524 million tonnes in 2021, state-run news agency RIA cited Deputy Prime Minister Alexander Novak as saying last week.

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