Russia Oil Output Growth Seen Slowing Further Next Yr – Energy Minister

Russian crude production has grown at a slower rate this year compared with 2004 and will decelerate further in 2006, Russian Energy Minister Viktor Khristenko said.

‘During the first eight months of this year, oil extraction increased by 2.5 percent to 310 million tonnes, whereas last year growth was 10 percent,’ he was quoted as saying by the Interfax agency during a meeting with President Vladimir Putin.