RUSSIAN CRUDE OIL PRODUCTION GROWTH SLOWING FOR 2006

Slowing growth of crude oil production has caught the attention of Russian policymakers. A number of government officials have offered outlooks on oil production that are substantially lower than industry projections. CERA expects that growth in oil production will slow to about 2 percent for 2006. Our outlook is based on the following conclusions:

- The slowdown in production growth will result from a shortfall by a handful of companies that are not expected to meet their announced output targets.
- The severe winter weather at the beginning of 2006 will have only a limited direct effect on Russian crude oil production for the entire year.
- The future of Russian crude production will continue to be heavily influenced by the government's response to the slowdown and its decision making. However, any measures that result will not exert an immediate impact on crude oil production.

CERA Research Reports

Browse other CERA research reports:

Oil Reports
Power Reports
Gas Reports
Energy Technology Reports

About CERA

CERA Reports Online, a wholly owned subsidiary of IHS Energy, is a leading advisor to international energy companies, governments, financial institutions, and technology providers. CERA delivers critical knowledge and independent analysis on energy markets, geopolitics, industry trends, and strategy. CERA's expertise covers all major energy sectors--oil and refined products, natural gas, and electric power--on a global and regional basis.