D Dominion Energy Inc

MOSCOW--Russia plans to produce roughly the same volume of crude oil next year as in 2014, Energy Minister Alexander Novak said Wednesday, Interfax news agency reported.

Mr. Novak said he is "skeptical" about possible plans of the Organization of Petroleum Exporting Countries to cut oil production.

Brent crude oil prices recently dropped below $80 per barrel, compared with levels above $100 per barrel, a development that is weighing on the ruble, the government's budget and oil company revenue. A cut to Russia's oil output would pose further risks to the budget as oil is the country's key export.

This year Russia plans to produce around 525 million tons of crude oil.

Write to Andrey Ostroukh at andrey.ostroukh@wsj.com

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