Russian oil production has fallen since the beginning of the year, Russian Deputy Prime Minister Alexander Novak said on Thursday, explaining the decline as "unplanned maintenance" at oil refineries, Reuters reports, according to UNN.
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Novak's comments marked the first time a Russian official has acknowledged that production has declined this year, the publication writes.
The world's third-largest oil producer stopped publishing oil production data in April 2023, just over a year after the start of the war with Ukraine.
Novak did not specify the reason for the maintenance at the refineries, but Ukraine has intensified strikes on Russian oil refineries in recent months, the publication points out.
"Current production levels are indeed slightly lower than they were at the beginning of the year," Novak told reporters at the St. Petersburg International Economic Forum.
"This is due to the fact that a number of our oil refineries are currently undergoing unplanned maintenance," Novak stated.
"Of course, we are using our export infrastructure at maximum capacity. As the refineries return to full operation, production will increase and return to previous levels," he said.
According to the International Energy Agency, oil production in Russia fell by 460,000 barrels per day in April compared to last year, to approximately 8.8 million barrels per day.
Novak also said that the OPEC+ group of oil-producing countries still plays an important role in the global oil market, despite the exit of the United Arab Emirates.
"In any case, the OPEC agreements and our agreements, which have proven their effectiveness, help to smooth out fluctuations and volatility in global markets," he said.
Russian oil exports hit record high amid strikes on Russian refineries - Bloomberg03.06.26, 11:01