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Oil report

Russian oil exports in 2020 to fall 16.4% y/y - Novak

MOSCOW, Oct 23 (Reuters) - Russian oil exports in 2020 are expected to fall 16.4% compared with last year to 225 million tonnes, Energy Minister Alexander Novak told Russia’s lower house of parliament on Friday.

Russia’s oil output this year is seen at 507 million tonnes, down from a planned level of 558-560 million tonnes, he said. (Reporting by Olesya Astakhova; writing by Tom Balmforth; editing by Maria Kiselyova)

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