Russian oil output rises in December

Oil

Russian oil and gas condensate production rose slightly in December to around 10.04M b/d, up from 10.03M b/d in November, according to Reuters, citing Energy Ministry data reported by Interfax. In 2020 output decreased by 980K b/d y-o-y to average 10.27M b/d, falling for the first time annually since 2008 to the lowest level since 2011.