The Russian Energy Ministry estimates that Russian oil production in 2023 will be about 523 million tons

Russian Energy Minister Nikolai Shuliginov told reporters that his ministry expects total oil production in 2023 to reach 523 million tons or slightly less.

"Our forecast is 523 million tonnes, maybe a little less," he said in response to a question about full-year oil production levels.

In late November, Russia's deputy prime minister, Alexander Medvedev, spoke out. Novak said that the forecast for the production of Russia's fuel energy sector in 2023 will remain unchanged, of which oil production is expected to be about 527 million tons. 535 million tonnes in 2022.

Novak noted in October that the slight decline in Russian oil production this year was related to taking on obligations within the Opec + framework to balance the market. According to him, overall, Russia's production potential is much higher.