Russia's Energy Minister expands oil production capacity to 500,000 barrels a day

[Moscow 7th Reuters]-Russian Novak Energy Minister Reuters interviewed that the Russian oil industry has increased its surplus production capacity due to investment, but two oil-related facilities in Saudi Arabia were attacked last month At that time, it was clarified that it had not increased its production because no response was necessary.

Novak said, “I was prepared to act in concert if necessary. I talked to the Saudi minister on the phone, but I felt that no special measures were needed because I was talking about the situation.” Stated.

Novak is working with domestic oil companies to significantly increase surplus production capacity during the period of production cuts by oil-producing countries, and Russia can adjust production in a short period of time and respond to fluctuations in market demand. It became an oil-producing country.

So far, Saudi Arabia has been the only oil-producing country that can sufficiently respond to fluctuations in the oil supply, and the UAE and Kuwait have a certain degree of response.

Novak said, “Our surplus production capacity was about 300,000 barrels a day, but now it has increased more as a result of continued investment (during the period of production cuts),” said Russia's current surplus capacity. Recognized that the daily dose was around 500,000 barrels.