Russia is ahead of Saudi Arabia for the extraction of oil and is inferior only to the United States, RIA Novosti reports.
According to the main analytics of the financial company ESPERIO Lion Kravets, in the near future to catch up with the United States in terms of production will be unlikely, but perhaps – for three to five years. This is due to the fact that, despite the accession to the OPEC transaction + to reduce oil production until 2022, the United States is not related obligations and can change volumes.
“The administration of Joseph Biden does not complain the oilmen by subsidies and tax breaks. Prefers green technologies. Most likely, investors will reduce the financing of shale projects,” added Kravkets.
Russia at the same time, reducing exports by almost 12 percent (up to 11.4 million tons), fulfills obligations under OPEC transaction +. It is noted that the domestic oil workers makes sense to increase production only with world demand for at least 100 million barrels per day, since production costs non-sash. In the second quarter, the cost of oil reached 20.4 thousand rubles per ton – a maximum for ten years.
According to the forecast of the Norwegian consulting company Rystad Energy, Russia may well go to the record level of oil and gas condensate already by July 2022.