Oil production to increase in the following years – Romania, 17 June 2016

According to the latest forecast of the National Prognosis Committee (CNP), oil production in Romania will increase in 2017, after the decline recorded in the past three years.
Romanian oil output decreased by 1.9 % in 2014, followed by 5.4 % decline in 2015, while the decline in this year is excepted to be around 0.8 %. However, this downwards trend will revers in 2017 and will keep increasing in the following years. In 2017, oil output will be 1.6 % higher compared to this year, and it will continue to grow in 2018 and 2019. Thus, since the oil production in Romania in 2016 is expected to reach 3.71 million tons of oil equivalent, oil production in 2019 will reach 3.89 million tons of oil equivalent.

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