| Russian oil production may slump 14 percent in the next five to 10 years under a worst-case scenario prepared by the Energy Ministry. Crude output may drop to 460 million metric tons (9.2 million barrels a day) by 2020-2025 from 534 million tons last year, before starting to show slight growth, the Energy Ministry’s press service said.
The worst case, prepared for the nation’s long-term energy strategy, envisages oil prices remaining at about $31 to $33 a barrel in 2016-2017 with a rebound to $42 in 2020, it said...............................................Full Article: Source
|