Russia has reduced oil production in December by 0.02% after the agreement on reduction

Russia has reduced oil production in December by 0.02% after the agreement on reduction© REUTERS/ Sergei Karpukhin

The daily average oil production and condensate in Russia in December decreased month-on-month by 0.02%, to 11,208 million barrels a day, according to the Agency Bloomberg with reference to the preliminary energy Ministry data.

Thus, the indicator declined slightly after OPEC and non-OPEC agreed to reduce oil production. Oil production Russia in November was $ 11,211 million barrels a day, the Agency said.

OPEC meeting in Vienna on 30 November agreed to cut its production by 1.2 million barrels per day — up to 32.5 million barrels. Non-OPEC countries, 10 Dec agreed to reduce its production a total of 558 thousand barrels per day, including Russia — 300 thousand barrels. The reduction will start in January, the agreement for the first six months with the possibility of extension.

The Agency with reference to the statistics of BP said that oil production in Russia reached a record level of 11,416 million barrels per day in 1987, before the collapse of the Soviet Union. In September 2016, oil production in Russia for the first time since 1991 exceeded 11 million barrels per day.

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