Russia Cuts Three-Year Oil And Gas Output, Export Forecasts

Moscow, May 12 (Petra) -- Russia said on Tuesday it had lowered its forecasts for oil and gas production and exports over the next three years, citing the impact of Western sanctions, attacks on energy infrastructure and a slowing economy.

In a statement, the Russian government said it had reduced its forecast for oil and gas condensate production this year to 511 million metric tons, equivalent to 10.22 million barrels per day, from a previous estimate of 525.2 million metric tons.

It also cut its forecast for crude oil exports by 4.5 million metric tons this year to 237.2 million metric tons and by 16.5 million metric tons next year to 227.4 million metric tons.

//Petra// AF

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