Date: 6 days ago   Category: Energy

Russia reduced production in May by 290 thousand barrels a day to the level of the transaction of OPEC — Rambler News Service


Photo: globallookpress.com/Nikolay Gyngazov Oil production by Russia in May, 2019 made 11.31 million barrels a day that on 290 thousand barrels a day it is less, than in October, 2018, follows from the monthly review of OPEC. "Preliminary data for May, 2019 confirm decrease in oil production in Russia on 120 thousand barrels a day in comparison by an indicator of the last month, on average up to 11.31 million barrels a day" — it is said in the report. According to the report of the organization of November, 2018, the Russian production in October, 2018 was 11.6 million barrels a day. On December 5-7, 2018 in Vienna there took place negotiations of the countries of OPEC and the states which are not entering into cartel participating in the agreement on reduction of level of production of oil. Following the results of negotiations of the country of OPEC reached the agreement on reduction of level of production of oil since January 1, 2019 on 1.2 million barrels a day to the level of October, 2018. At the same time the countries of OPEC will reduce oil production within the transaction by 800 thousand barrels the day which is not entering into cartel of the country — in total on 400 thousand barrels a day. Russia will reduce oil production by 228 thousand barrels a day. On June 3 the current year the Minister of Energy of the Russian Federation Alexander Novak reported that following the results of May Russia reduced oil production on average by 317 thousand barrels a day to an indicator of October, 2018.

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