Russian energy ministry sees no drop in oil output in the medium term, the country's energy minister Alexander Novak told reporters Wednesday, Interfax reported.

"All the conditions for not lowering oil procution," he said.

In 2012, Russian oil output hit a post-Soviet high of 518.0 million metric tons, or 10.375 million barrels per day, largely on the back of production from state-run OAO Rosneft (ROSN.RS). 

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