Russia Expects To Boost Oil Production To Post-Soviet High In 2022

Russia sees raising its oil production to an average of 11.24 million barrels per day (bpd) in 2022, which would be an 8-percent increase from 2021 as OPEC+ eases the production cuts, Bloomberg reported on Tuesday, quoting estimates from the Russian finance ministry it had seen. The forecast production figure was included in a draft budget estimating how much revenue Russia could gain from oil and gas between 2022 and 2024. The 11.24 million bpd estimate is very close to the 11.25 million bpd post-Soviet record that Russia pumped back in 2019.…