(MENAFN- Qatar News Agency) Russia's national oil industry produced 520 Million tons of oil in 2013, compared to 518.7mt in 2012, the government said Sunday. A report from the Ministry of Economic Development said, the country's oil will stabilize at the current level until 2016 as the volume of oil production will reach 520mt in 2014 as well. In 2015 it expects oil output to reach 520.5mt and 521mt in 2016. Oil production in Russia was up by 347mt or 0.7% while natural gas production was up by 0.4% to 429 billion cubic meters.
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