Russia ramps up oil output, exports – media ...News

A full recovery of the industry following the sanctions will depend on the successful redirection of supplies, analysts say Russian oil production rose by 5% last month after a sharp decline in April, the newspaper Vedomosti reported on Friday, citing a source in the industry. May output amounted to 10.2 million barrels per day, up from 10 million in April. Still, compared to May 2021, production was down by 2.5%. Russian Deputy Prime Minister Alexander Novak said at the end of May that oil production in 2022 could drop to 480-500 million tons, from 524 million tons in 2021. According to the official, however, the

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