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Russia sees oil output rising after OPEC+ deal expires in 2022

Russia expects its oil production to increase after the current OPEC+ deal on output curbs runs its course in April 2022, data from the economy ministry published on Saturday showed.

Russia, which the ministry expects to produce 507.4 million tonnes of oil this year, is seen increasing its production over the next three years to 560 million tonnes, or 11.2 million barrels per day, in 2023.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s s shares are listed on the London AIM and Dublin ESM Markets.