| From tradingcharts.com: All development concepts for Russia provide for lower oil production for the period until 2020, the Russian Economy Ministry indicated in a long-term social and economic development outline. Domestic oil consumption is expected to exceed production, while oil exports are also anticipated to decline. About 85 percent of exported oil will be supplied to the CIS countries. Europe is projected to become less dependent on Russia's oil supplies. By 2030, oil exports are estimated to reach 245m tonnes...... Full Article: Source |