Russia’s Deputy Prime Minister Alexander Novak said on Tuesday that Russia’s oil output is expected to be 515-520 million metric tonnes in 2025.

The volume of oil processing would be higher this year compared to 2024, he added.

Novak believes that the global oil market is balanced now and that this situation will be maintained in April as the planned OPEC+ oil output rise of 100,000 barrels per day will not affect the market.
Source: Reuters