The Russian energy ministry said the country cut oil production by about 700,000 bpd last month.
About it writes Bloomberg.
The agency notes that according to the data of the Ministry of Energy, which are not public, producers produce an average of 1.28 million tons of oil per day.
This is equivalent to more than 9.4 million barrels, which means that last month the reduction in crude oil production alone was almost 700 thousand barrels per day.
It is added that the total March production of crude oil and gas condensate in Russia averaged 1.4 million tons. This is equivalent to 10.36 million barrels per day, compared with 11.1 million barrels in February, according to the agency’s calculations.
As a result, the overall contraction averaged 740,000 barrels per day, the data show.
However, this figure is inconsistent with data on March seaborne exports and deliveries to domestic refineries, adding to the uncertainty about how much oil the Russian Federation is actually pumping.
Recall:
Saudi Arabia and a number of other countries that are members of OPEC +, April 2 announced on a further reduction in oil production by about 1.16 million barrels per day.
Russia announced a reduction in oil production by 500 thousand barrels per day (b / d) in response to introduction ceiling prices for it by the G7 countries, the markets reacted by rising prices.
