Russia. Oil production to keep the planned level
Edited by Rhod Mackenzie / 2015-11-16 12:33:48
They plan to produce 525 million tons of oil in Russia next year (10.5 mln barrels a day). Minister of Energy A.Novak said.
According to “Rossiyskaya gazeta”, decrease of oil prices causes loss, amounting to $90-100 billion a year. The reason of decline is excess supply over demand, caused by an increase of shale gas production in the USA, as well as an increase of production by the OPEC countries, in particular, Libya, Iran and Iraq.
