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2019-04-22 08:45:00

RUSSIA'S OIL PRODUCTION 11.24 MBD

RUSSIA'S OIL PRODUCTION 11.24 MBD

REUTERSRussia has been cutting its oil production in line with the global output deal between OPEC and its allies, Russian Energy Minister Alexander Novak told reporters in Moscow on Friday.

Russian oil production was around 11.24 million barrels per day (bpd) between April 1 and April 18, an industry source told Reuters on Friday.

The Organization of the Petroleum Exporting Countries and other large oil producers led by Russia agreed to cut their combined oil output by 1.2 million bpd starting from Jan. 1 to balance the market and prop up crude prices.

Of that, Russia undertook to cut 228,000 bpd from October 2018, the baseline for the agreement. In October last year, Russia was pumping 11.41 million bpd.

Russia's energy ministry declined to comment.

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Earlier:

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Tags: RUSSIA, OIL, PRODUCTION