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Daily oil production in Russia hits 30-year high
- 04 January, 2018
- 09:17
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Baku. 4 January. REPORT.AZ/ Russian oil production has continued to grow in 2017, with average daily output at a 30-year high of 10.98 million barrels/day, though the pace of growth slowed from 2016 because of the country’s participation in an OPEC-led global supply pact.
Report informs citing the Reuters, Russian energy ministry has stated.
According to ministry, for the whole of 2017, the average output was 10.98 million bpd compared with 10.96 million bpd in 2016 and 10.72 million bpd in 2015.
Energy minister Alexander Novak said that 2018 oil production is expected to stay at 547 million tons if the cuts last until the end of the year, as agreed.
Notably, Russian oil output reached 546.8 million tons last year.
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