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Russia's daily oil output down 100,000 bpd in January, for a total of 11.1 million bpd



Petroleumworld.com 02 17 2017

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 Prentic from Reuters.

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