Russia's January-November oil and gas condensate rose 2.2% from a year earlier to 488 million tonnes, the Interfax news agency said on Tuesday, citing Deputy Prime Minister Alexander Novak, who expects a slight output decline following new sanctions.
European Union countries that have been primary buyers of Russian crude for decades stopped buying it from sea ports from Dec. 5 under an embargo imposed by the bloc.
Russia's oil and gas condensate output from January to November averaged 10.91 million barrels per day, according to Reuters calculations. "Global consumption, economic growth in the world must be provided with energy resources. There is not much oil in the world, and Russian oil has always been and will be in demand. Yes, supply chains will change. Nevertheless, we do not see any tragedy in this," Novak said according to Interfax."I don't think the volumes will be big.
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