The Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecast for a slight increase in Russia's liquid hydrocarbon production, including oil, gas condensate and other gas condensate liquids, by 80,000 bpd in 2022, the cartel's monthly report noted.

Liquid hydrocarbon production in Russia is projected to increase by 80,000 bpd to 10.9 million bpd in 2022, unchanged from last month's forecast, OPEC said in the report.

The cartel also still expects liquid hydrocarbons production in Russia to fall by 0.4 million bpd next year. At the same time projected production volumes will fall to an average of 10.5 million barrels per day, stated in a report of the organization.

However, the expected figures on the levels of crude production in Russia in 2023 are characterized by a high degree of uncertainty. At the same time the decline in oil and condensate production in the country in August 2022 was 71 thousand barrels per day, the total volume for the last summer month decreased to 9.8 million barrels per day.