Russia Projects Oil Output to Grow in Coming Years
(MENAFN) The Russian Ministry of Economic Development is standing by its projection for oil production in 2025, keeping the target at 516 million tons, according to multiple local media reports on Tuesday.
Citing newly released socio-economic development forecasts, the reports indicate that Russia expects output to climb steadily in the following years — reaching 525.2 million tons in 2026 (a 1.8% increase), followed by 532.6 million tons in 2027, and 540 million tons in 2028.
At the same time, oil exports are forecast to dip by 2.08% in 2025, dropping to 240.1 million tons. However, projections show a rebound beginning in 2026, continuing through 2028.
The ministry also anticipates a 2.8% rise in oil product exports by the end of this year, reaching 125.9 million tons. That figure is expected to grow further, with a 4.8% increase projected for 2026, pushing volumes to 132 million tons.
These figures reflect a cautiously optimistic outlook for Russia's energy sector, even as global markets remain volatile.
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