Russian Oil Output Inches Up as Gas Production Crashes

摘要

Defying forecasts of a sharp fall this year, Russia's crude oil and condensate production inched up 0.9% in May to average 9.84 million barrels per day, preliminary energy ministry data show. In the first five months of the year, output rose almost 0.5% to 9.808 million b/d. The increase is largely courtesy of higher output from the Gazprom-led Sakhalin-2 development on Russia's Pacific shelf and rising output from Lukoil and TNK-BP.