Russia Could Boost Oil Production To 11.4 Million Bpd

russia_could_boost_oil_production_to_11_4_million_bpd.jpg

Entornointeligente.com / Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community Trade Now My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics Trade Now Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 81.07 +0.63 +0.78% Brent Crude • 10 mins 83.80 +0.62 +0.75% Natural Gas • 10 mins 5.803 +0.213 +3.81% Heating Oil • 10 mins 2.543 +0.022 +0.88% Gasoline • 10 mins 2.418 +0.013 +0.53% Louisiana Light • 2 days 81.72 -0.43 -0.52% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Louisiana Light • 2 days 81.72 -0.43 -0.52% Bonny Light • 2 days 82.45 -0.35 -0.42% Opec Basket • 2 days 81.79 -0.58 -0.70% Mars US • 15 hours 77.54 -0.40 -0.51% Gasoline • 10 mins 2.418 +0.013 +0.53% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Marine • 2 days 81.04 -0.88 -1.07% Murban • 2 days 82.37 -0.93 -1.12% Iran Heavy • 2 days 78.32 -0.08 -0.10% Basra Light • 2 days 81.96 +0.03 +0.04% Saharan Blend • 2 days 82.96 -0.12 -0.14% Bonny Light • 2 days 82.45 -0.35 -0.42% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Bonny Light • 2 days 82.45 -0.35 -0.42% Girassol • 2 days 82.84 -0.13 -0.16% Opec Basket • 2 days 81.79 -0.58 -0.70% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 2 days 65.28 -0.31 -0.47% Western Canadian Select • 10 hours 65.99 -0.35 -0.53% Canadian Condensate • 11 hours 79.44 -0.20 -0.25% Premium Synthetic • 11 hours 80.84 -0.20 -0.25% Sweet Crude • 10 hours 78.64 -0.05 -0.06% Peace Sour • 10 hours 75.84 -0.35 -0.46% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Peace Sour • 10 hours 75.84 -0.35 -0.46% Light Sour Blend • 10 hours 76.94 -1.30 -1.66% Syncrude Sweet Premium • 10 hours 79.04 -0.10 -0.13% Central Alberta • 10 hours 75.99 -0.25 -0.33% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Louisiana Light • 2 days 81.72 -0.43 -0.52% Domestic Swt. @ Cushing • 2 days 77.00 -0.25 -0.32% Giddings • 2 days 70.75 -0.25 -0.35% ANS West Coast • 3 days 83.61 -0.47 -0.56% West Texas Sour • 2 days 74.39 -0.20 -0.27% Eagle Ford • 2 days 78.34 -0.20 -0.25% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Eagle Ford • 2 days 78.34 -0.20 -0.25% Oklahoma Sweet • 2 days 77.00 -0.25 -0.32% Kansas Common • 2 days 70.75 -0.25 -0.35% Buena Vista • 2 days 85.88 -0.20 -0.23% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Products Discussion Headlines 45 mins Presidential Candidate Promises To Dismantle France’s Wind Industry 2 hours Algeria Set To Cut Gas, Electricity Subsidies 3 hours U.S. Announces Lease Sales for Massive Offshore Wind Expansion 21 hours Large Crude Build Pushes Down Oil Prices 22 hours Norway To Continue Developing Oil Industry Under New Government 23 hours Putin: OPEC+ Cooperation Could Expand To Other Areas 24 hours Israel To Stop Onshore Oil Permits 1 day Beijing To Allow Free Market Forces To Dictate Coal Power Prices 1 day China Crude Oil Imports Decline Between January And September 1 day Major Mexican Refinery Has Been Shut For Weeks And The Media Only Just Found Out 2 days EU’s Green Bond Debut Comes Out Swinging 2 days Russia: Gazprom Uses Inventories To Stabilize Europe’s Gas Market 2 days Middle East Oil Producers Set For $165B Current Account Surpluses 2 days France Bets On Nuclear, Hydrogen For Zero-Emission Power 2 days Pakistan Struggles To Find LNG Amid Gas Crisis 2 days New UK Law To Mandate Home EV Chargers To Switch Off During Peak Hours 2 days China Backpedals On Climate Commitments 2 days Mexico Plots Demise Of Hundreds Of Private Power Plants 3 days Saudi Arabia To Ship Extra Crude Oil To Asia In November 3 days Surging Energy Prices Make Russia A Top Investor Pick 3 days UK Government Needs To Do More To Combat Energy Crisis: Industry Leaders 3 days Russia And Ukraine Return To Court Over Black Sea Ship Seizures 3 days California Looks To Ban Gas-Powered Lawnmowers 3 days Lebanon Suffers Grid Collapse As Power Plants Run Out Of Fuel 3 days EU Weighs Joint Gas Purchases To Avoid Future Supply Shocks 3 days India Is Not Facing A Coal Shortage 6 days Nigeria Looks To Boost Oil Production By 310% To 4 Million Bpd 6 days Canada Oil Industry Wants Government To Pay For Carbon Capture 6 days China’s Crude Oil Imports Dip In September 6 days Tesla Is Moving Its Headquarters To The Lone Star State 6 days World’s Top LNG Exporter Qatar: Gas Prices Have Hit Unhealthy Level 7 days Overlooked Oil And Gas Stocks Are Making Hedge Funds Major Money 7 days Even The World’s Top LNG Exporter Thinks Natural Gas Prices Are Too High 7 days Moody’s Lifts Medium-Term Oil Price Outlook 7 days Will Tajikistan Turn The Taliban’s Power Off? 7 days The Spoils Of War: How Azerbaijan Took Control Of 30 Hydropower Plants 7 days Can Southeast Asia Prevent Future Microchip Shortages? 7 days Auto Sales Are Drying Up As Semiconductor Shortage Worsens 7 days Workers Wanted: Miners Offered $100k Per Year As Coal Prices Soar 7 days Gazprom On Track To Fill Russian Gas Storage By End-October 4 minutes Europeans and Americans are beginning to see the results of depending on renewables. 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing? 13 minutes NordStream2 2 hours Monday 9/13 – “High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year” by Irina Slav 19 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc. 34 mins GREEN NEW DEAL = BLIZZARD OF LIES 18 mins “Here is The Hidden $150 Trillion Agenda Behind The “Crusade” Against Climate Change” – Zero Hedge re: Bank of America REPORT 4 days “A Very Predictable Global Energy Crisis” by Irina Slav — MUST READ 18 hours An Indian Opinion on What is Going on in China 3 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed. 5 hours Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry 2 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done! 2 days Nord Stream – US/German consultations Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Breaking News: Presidential Candidate Promises To Dismantle France’s Wind Industry

Find us on:

Record High LNG Prices Could Result In Demand Destruction The global energy crisis is…

The Facts Behind Saudi Arabia’s Outrageous Oil Claims Aramco CEO Amin Nasser said…

IEA Says Clean Energy Spending Must Triple Investments in low-carbon energy need…

Home Energy Energy-General Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Share Facebook Twitter Linkedin Reddit Premium Content Russia Could Boost Oil Production To 11.4 Million Bpd By Tsvetana Paraskova – Oct 14, 2021, 11:00 AM CDT Russian Deputy Prime Minister Alexander Novak: Russia has the capacity to increase production to up to 11.4 million bpd Russia expects its crude oil plus condensate production to return to pre-pandemic levels by May 2022 Russia’s crude oil production is trickier to estimate than the output levels of the other OPEC+ members because official Russian data doesn’t discriminate between crude oil and condensate production Join Our Community Russia is currently pumping 9.9 million barrels per day (bpd) of crude oil, but has the capacity to increase production to up to 11.4 million bpd, Russian Deputy Prime Minister Alexander Novak said on Thursday.

Nevertheless, the output level should be guided by the market, Novak added.

Russia’s oil production in October will be 9.9 million bpd, as Moscow is aligning its output with the OPEC+ agreement, Novak said at the Russian Energy Week forum today.

The country has previously reached maximum production of 11.3 million bpd-11.4 million bpd, the official added, noting that Russia has no problem in boosting output to that level. However, it is necessary to take into account the situation on the oil market, Novak said.  

The deputy prime minister, who is in charge of leading Russia’s participation in the OPEC+ deal, also said that the current oil prices and supply-demand balance adequately reflect the situation, and Russia doesn’t expect extreme volatility on the oil market in the short term.

Russia expects its crude oil plus condensate production to return to pre-pandemic levels by May 2022, Russian officials, including Novak, have said in recent months.

As per the latest quota distribution of the OPEC+ group, Russia, the leader of the non-OPEC producers in the pact, has a ceiling of 9.913 million bpd for November—the same as OPEC’s de facto leader and top producer, Saudi Arabia.

Russia’s crude oil production is trickier to estimate than the output levels of the other OPEC+ members because official Russian data doesn’t discriminate between crude oil and condensate production, but condensates are excluded from Russia’s OPEC+ quota.

Bloomberg  estimates  put Russian crude and condensate production in September at 10.7 million bpd. If condensate production was around 880,000 bpd, this would put Russian crude oil output at 9.83 million bpd, which would be 130,000 bpd above quota, as per Bloomberg calculations.

Analysts say that Russia may have reached its capacity to produce oil.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Will The U.S. Be Spared From The Global Energy Crisis?

Canada’s Oil Stocks Are Trading At Bargain Basement Prices

This Key Indicator Is Pointing To Higher Oil Prices Download The Free Oilprice App Today
LINK ORIGINAL: Oilprice

Entornointeligente.com

Smart Reputation

Boxeo Plus
Boxeo Plus

Smart Reputation

Más en EntornoInteligente.com