By January 16, 2017 Read More →

Russian oil output averaged 11.1 million b/d from Jan. 1-15

Russian oil output

Under the OPEC supply cut deal, Russian oil output was supposed to be reduced by 300,000 b/d beginning on Jan.1.  Bashneft photo.

Russian oil output almost flat

MOSCOW, Jan 16 (Reuters) – Russian oil and gas condensate production averaged 11.1 million barrels per day (b/d) from Jan. 1-15, two energy industry sources told Reuters on Monday.

According to the sources, production averaged 1.514 million tonnes a day in the first two weeks of January compared to an average of 1.516 million tonnes a day during the first week. In barrels per day, it was almost flat.

Russia has committed to a 300,000 b/d cut during the first half of 2017 as a part of a global deal with OPEC.

(Reporting by Olesya Astakhova; Writing by Katya Golubkova; Editing by Andrew Osborn)

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