Russian oil production in Jan remains at 9.5 mln bpd, 10.9 bpd including condensate, OPEC estimates

MOSCOW. March 12 (Interfax) - Production of liquid hydrocarbons remained stable in Russia in January at 10.9 million barrels per day, of which 9.5 million bpd were oil and 1.4 million bpd were condensate, OPEC analysts said.

The organization's previous report said that, in December Russia's liquid hydrocarbon production totaled 10.8 million bpd, of which 9.5 million bpd was oil and 1.3 million bpd condensate.

OPEC expects liquid hydrocarbon extraction in Russia to decrease 0.2 million bpd in 2024 versus 2023 to 10.7 million bpd, taking into account all the voluntary restrictions under the OPEC+ deal.

Meanwhile, the organization expects the acceleration of production at several fields in Russia, as well as the launch of new projects by Rosneft , Russneft , Lukoil , Gazprom , Neftisa and TenderResurs, which will be offset by a decrease in production at mature fields.

OPEC predicts an increase in Russian liquid hydrocarbons production in 2025 of 0.1 million bpd to 10.9 million bpd due to the launch of projects by Lukoil, Russneft, Sheshmaoil, Gazprom, Rosneft and Sintek Oil.