Russian oil production in 2023 to reach maximum of 523 mln tonnes

MOSCOW. Dec 29 (Interfax) - Russia's expected oil production volume for 2023 is 523 million tonnes or slightly less, Russian Energy Minister Nikolai Shulginov told reporters.

"We can tell you the expected [forecast for 2023] is 523 million tonnes; it may be a little less," he said.

In October, Russian Deputy Prime Minister Alexander Novak announced that the oil production forecast for the current year would be 525-527 million tonnes.

In 2022, Russia produced 535 million tonnes.

Therefore, the forecasted 2023 figure represents a 2.2% decrease.