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Russian oil production - freezing at peak?


Russian oil production - freezing at peak?

Report summary

On 17 April, OPEC and Russia along with several other non-OPEC producers will be meeting in Doha to discuss a potential freeze in oil production with the aim to stabilise the oil price. Russia was initially not inclined to enter an agreement with OPEC. However, as the oil price dropped further, pressure on the 2016 budget increased. Russia coordinated a preliminary agreement in February with Saudi Arabia, Venezuela and Qatar to freeze production at January 2016 levels. If an agreement in Doha is reached, the impact would be limited for Russian oil companies. January oil output was at post-Soviet record levels and Wood Mackenzie assumes the annual average for 2016 to be lower.

What's included?

This report includes 2 file(s)

  • Russian oil production - freezing at peak? PDF - 458.66 KB 5 Pages, 0 Tables, 4 Figures
  • Russian Oil Production.xls XLS - 150.00 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Executive summary
  • The changing Russian position
    • 2015: Little interest
    • 2016: Russia takes the lead
  • Impact of a freeze limited
    • What would the impact on Russia be?

In this report there are 4 tables or charts, including:

  • Executive summary
  • The changing Russian position
    • Monthly Russian liquids production
    • Cash flow breakeven price in 2016
    • The changing Russian position
  • Impact of a freeze limited
    • Key increases in January 2016 vs annual average oil production in 2015
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