Russia’s Oil Production Slipped 2.8%, Gas Output Rose 7.6% in 2024

Russia pumped 2.8% lower volumes of crude oil and condensate in 2024 from a year earlier, while its natural gas production rose by 7.6%, Russian Deputy Prime Minister Alexander Novak wrote on Thursday in the energy ministry’s in-house magazine. Last year, Russian oil production stood at 516 million tons, said Novak, who is Russia’s top oil official and represents the country at the OPEC+ talks and meetings. The production volumes were equivalent to about 10.32 million barrels per day (bpd). This was down by 2.8% from 2023, as Russia…