Date: 7 days ago   Category: Energy

Russia in June reduced production by 260 thousand barrels a day to the level of the transaction of OPEC — Rambler News Service


Russia reduced oil production in June, 2019 by 260 thousand barrels a day from the level of October, 2018 which is basic within the transaction with OPEC about oil production reduction, follows from the monthly report of the International Energy Agency (IEA). According to the report of MEA, production of Russia in June, 2019 was 11.49 million barrels a day that on 50 thousand barrels a day it is more, than a month earlier. At the same time MEA considers a basic indicator of the Russian production (for October, 2018) 11.75 million barrels a day. MEA notes that the level of implementation of the agreement by Russia in June was 114% against 132% in May. "The Russian production was a little restored after sharp falling in May", - it is said in the report. According to arrangements with OPEC, Russia has to reduce oil production by 228 thousand barrels a day to the level of October, 2018. On July 1 the current year the Minister of Energy of the Russian Federation Alexander Novak reported that following the results of June Russia reduced oil production on average by 278.5 thousand barrels a day to an indicator of October, 2018.

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