OPEC reduces forecast for Russian liquid hydrocarbons output for 2023 by 440,000 bpd to 10.08 mln bpd

MOSCOW. Oct 12 (Interfax) - OPEC has revised down Russian liquid hydrocarbon output in 2023 by 440,000 bpd to 10.08 million bpd, the organization said in its monthly oil market report.

A month earlier, OPEC analysts forecast Russian liquid hydrocarbon production at 10.52 million bpd in 2023.

The 2022 liquid hydrocarbon production estimate was slightly adjusted downward from 10.88 million bpd a month earlier to 10.86 million bpd. OPEC therefore expects oil production in Russia to decline by an average of 780,000 bpd in 2023.

At the same time, the report stresses that the forecast for Russian oil production is subject to a high degree of uncertainty.