At the end of May Russia was the world leader in the production of oil, surpassing Saudi Arabia.
Edited by Rhod Mackenzie / 2015-06-03 06:18:01
Finance Oil and Gas Russia Russia Oil and Gas Drilling Lukoil Oil Production and Refining Rosneft Surgutneftegaz
High prices have supported the production of oil in Russia.
At the end of May Russia was the world leader in the production of oil, surpassing Saudi Arabia. The high level of production was a surprise: the state and the companies expected that production would start to fall in 2015. But according to sources of "the Kommersant", because of the devaluation of the rouble, rising oil prices and increased profitability of mining companies their production drilling increased. The question is whether Russia is able to maintain this level in the medium term.