Russia:Old oil to be enough for three years.

Recession of production in Russia is expected in 2019.

Russian oil producers should not fear the decrease in production, the analysts of Merril Lynch state. Until 2018 moderate growth or stagnation will continue - thanks to a flexible tax system and the devaluation of the rouble. But since 2019 the decrease will take place as due to Western sanctions oil producers will not offset the decrease in production from older fields with shelf and hard-to-recover oil. The main risk for the industry is the possible growth of the tax burden when the country's budget deficit is reduced. Fearing the same, the RF Ministry of Energy includes the decrease in production into the forecasts already in 2017.