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In 2017, the Production of Hydrocarbons in Russia Amounted to 10.9 Million Barrels Per Day
January 20, 2018 13:00


In 2018 the USA will sharply increase oil production and catch up with Russia, according to a forecast made by the International Energy Agency (IEA).

According to the Company, the United States will produce more than 10 million barrels per day. In general, the growth in oil production in the United States, Canada and Brazil in 2018 will ensure a general increase in production in non-OPEC countries by 1.7 million barrels per day. This is enough to cover the growth of world demand, which will be 1.3 million barrels a day, noted in the IEA.

At the same time, the impact of such growth on prices will not be particularly significant due to the decline in production in Venezuela. The total production figure for the OPEC countries will be 32.3 million barrels per day, which is less than the set quota.

As a result of 2017, the production of hydrocarbons in Russia amounted to 10.9 million barrels per day. The Russian Federation stabilized the production in order to fulfill the quotas set at the meeting of OPEC and the countries that joined the agreement on limiting oil production.

Author: Anna Dorozhkina


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