Moscow, Feb. 13, Reuters reported that an energy industry source told Reuters that Russia’s average daily oil production from February to December was 11.34 million barrels per day, 70,000 barrels per day less than the reference month of the October global production reduction agreement.
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The Organization of Petroleum Exporting Countries and other global oil producers agreed in December to cut their total production by 1.2 million barrels a day to support oil prices and try to balance markets. Russia is cutting production from 11.41 million barrels a day in October.
OPEC and other global oil producers agreed last December to cut their total production by 1.2 million barrels a day to support oil prices and try to balance the market. Russia is cutting production from 11.41 million barrels a day in October.
Alexander Novak, Russia’s energy minister, said this month that oil production in January was 47,000 barrels a day lower than in October.
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