Russia energy minister sees 2024 oil output unchanged -RIA

Russian Energy Minister Nikolai Shulginov said on Saturday that the country’s oil production will likely stay broadly unchanged this year from 2023, RIA news agency reported.

Russian oil and gas condensate production declined slightly last year to 530 million metric tons (10.6 million barrels per day).

Interfax news agency also quoted Shulginov as saying that Russia has cut gasoline exports following an incident at the NORSI oil refinery.

The outage has sparked concerns about potential gasoline shortages across the country and there have been media reports suggesting that the government was considering imposing an export ban on the fuel, as it did last autumn.

“We have slightly reduced exports and increased output a bit. We don’t see any problems for the next few months,” Shulginov was quoted as saying.

Russia’s oil and oil refining industry has suffered several incidents this month, including a fire at Black Sea’s Tuapse refinery, leading to a reduction in refining and export capacity and adding to uncertainty on the global oil market, already rocked by attacks on shipping in the Red Sea.
Source: Reuters (Reporting by Vladimir Soldatkin; editing by William Maclean and Jason Neely)