By February 16, 2017 Read More →

Russian oil output at 11.1 million b/d between Feb 1-15

Russian oil output

Russian oil output averaged 1.516 million tonnes in the first two weeks of February. Bashneft photo.

Russian oil output down by 100,000 b/d in January

MOSCOW, Feb 16 (Reuters) – Russia’s daily oil output averaged 1.516 million tonnes between Feb. 1 and Feb. 15, two sources familiar with the data told Reuters on Thursday.

According to Reuters calculations, that amounts to 11.1 million barrels per day.

Russian oil production contracted by 100,000 barrels per day in January led by decline at all the major domestic producers and following a global accord aimed at eliminating oversupply and supporting oil prices.

January marked the start of planned output cuts by 11 members of the Organization of the Petroleum Exporting Countries and other producers led by Russia under a Dec. 10. deal.

(Reporting by Olesya Astakhova; writing by Jack Stubbs; Editing by Alessandra Prentice)

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