Exclusive-Russia sees its oil production fall by up to 17% in 2022 document by Reuters


© Reuters. FILE PHOTO: A general photo shows the Lukoil company’s oil refinery in Volgograd, Russia April 22, 2022. Photo taken April 22, 2022. Photo taken with a drone. REUTERS / REUTERS PHOTOGRAPHER / File Photo


(Reuters) – Russia could see its oil production fall by as much as 17% in 2022, a Ministry of Economy document showed, which was seen by Reuters on Wednesday as the country struggles with Western sanctions.

According to the document, Russian oil production could fall to between 433.8 million and 475.3 million tonnes (between 8.68 million and 9.5 million barrels per day) in 2022 from 524 million tonnes in 2021.

Exports of oil and gas are also expected to fall this year, the document showed.

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