Novak: Russia's oil production in 2025 will remain at 516 mln tonnes, growth of around 2% expected in 2026

MOSCOW. Dec 25 (Interfax) - Russia's oil production at the end of 2025 will remain at the level of the previous year and amount to 516 million tonnes, and next year the authorities expect an increase of around 2% to 525 million tonnes, Deputy Prime Minister Alexander Novak said in an interview with the Rossiya-24 television channel (VGTRK).

"This year we will reach the production level [of oil] approximately as in 2024 - 516 million tonnes. For 2026, we have planned an increase of about 2% in accordance with the socio-economic development forecast - 525 million tonnes," said Novak.