Russian oil companies made no revision of investment plans despite falling oil price, Russian Energy Minister Alexander Novak said.
Russia’s oil exports may fall due to unchanged oil output level and higher domestic consumption, not government decisions, the minister stressed.
“Russia is not increasing oil supply on the world market. Our output volumes remain at a stable level. We plan to keep output volumes at the 2014 level, without an increase or a decrease,” the minister said.
“At the same time, export volumes are slightly decreasing due to the growth of domestic consumption. Nevertheless, the global demand grows annually,” he said. Market laws will help stabilize global oil prices, Novak added.