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MOSCOW (Reuters) – Russian oil production fell to 11.38 million barrels a day in January, about 35,000 barrels from October 2018, the benchmark of the global deal. on oil. Saturday.
FILE PHOTO: An employee checks the valve of an oil pipeline on Imilorskoye oil field, owned by Lukoil Corporation, outside Kogalym City, Western Siberia, in this photo of the 25 January 2016. REUTERS / Sergei Karpukhin / Photo File
That was 11.45 million bpd in December, a monthly record. In tonnes, oil production reached 48.113 million euros against 48.442 million euros in December.
Exports of Russian oil pipelines in January fell to 4.313 million bpd from 4.466 million bpd in December.
Rosneft, the world's largest oil producer in terms of production, cut production by 0.1% last month compared with December, while Russia's second-largest oil producer, Lukoil, saw its production decline by 0.8% .
Production at Rosneft's largest unit, RN-Yuganskneftegaz, fell 0.8% following a fire that ravaged the Priobskoye oil field in early January.
The output of Gazprom Neft, the oil arm of the gas giant Gazprom, rose by 0.1%.
Russian Energy Minister Alexander Novak said the country's overall cuts would rise to 50,000 b / d between January and October.
The Organization of the oil producing countries and other major world oil producers agreed in December to reduce their combined production of 1.2 million bpd in order to support oil prices and to balance equitably the market.
Russia has committed to reduce its production by about 230,000 barrels a day in the first quarter.
Novak also said that Russia was not able to sharply reduce its oil production due to technical limitations, but that it would try to do it more quickly.
The cuts slower than expected provoked a reprimand from Saudi Arabia, the pillar of OPEC.
Reducing production is a challenge, as Russia's harsh winter climate can freeze wells, Russian officials and badysts said.
According to a Reuters survey, the OPEC oil supply declined in January in the most important way in two years.
Russia's natural gas production reached 67.43 billion cubic meters last month, or 2.18 billion cubic meters a day, compared to 67.04 billion cubic meters in December.
Report of Vladimir Soldatkin; Edited by Paul Tait
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