According to initial and still unofficial data, in January 2017, oil production in Russia was almost 100 thousand barrels per day lower than a month earlier.
Average Russian production, according to two sources, reached 11.11 million barrels per day (or 1,516 million tonnes per day) last month, up from 11.21 million barrels per day in December 2016.
The state-owned production company Rosneft, the largest oil producer in Russia, reached 3.78 million barrels per day, or 518 thousand tons per day in January this year, compared to 3.8 million barrels per day (520.4 thousand tons per day) month earlier. These figures do not include the Russian giant's manufacturing subsidiaries and joint ventures.
This is further evidence that, contrary to the fears of some market participants, Russia is at least partially related to the agreement of the OPEC countries and 11 countries outside the organization to reduce oil production in the first half of 2017 by a total of about 1.8 million barrels per day.
Russia reduced oil production by 100 thousand barrels per day in January
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Azovpromstal® 3 February 2017 г. 10:43 |
