Russian oil production expected to fall 3.36% to 494.2 mln tons in 2026 — ministry

AI Summary

Russian oil production is forecasted to decrease by 3.36% to 494.2 million tons in 2026. The ministry projects a rebound to 500 million metric tons in 2027 under the baseline scenario, indicating potential stabilization after the decline.

Under the baseline scenario, the ministry expects production to rise to 500 mln metric tons in 2027