Soaring energy prices are driving Russia’s oil output to record highs. But how long can the world’s biggest oil producer keep it up?
Not very long, according to industry analysts, unless the government reforms the tax system to encourage investment at oilfields.
Russia produced 10.27m barrels a day of oil in August hitting a new post Soviet high. Output for the full year is now expected to edge close to 10.3m barrels a day – up from 10.1m b/d in 2010.
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