Russia cuts oil production by 158,000 barrels per day

Baku. 9 January. REPORT.AZ/ According to the data for January 6 Russian oil company reduced oil and gas condensate production by 1.2% or 158 thousand barrels in comparison to December 29, 2016. Report informs citing the RIA Novosti, these data are published on the website of the Central Supervisory Control Fuel and energy complex. Then the volume of production amounted to 1.529 million tons (11.437 million barrels) a day, on December 6 the figure fell to 11.279 million barrels per day (1.508 million tons).

Notably, the OPEC during the meeting in Vienna on November 30 has agreed to reduce production by 1.2 million barrels a day - up to 32.5 million barrels. Non-OPEC countries agreed on 10 December a reduction of its total production to 558 thousand barrels per day, including Russia -. 300 thousand barrels.Russian oil companies will cut oil production by 50 thousand barrels per day in January and by 200 thousand barrels in March, and by May, the reduction will be about 300 thousand barrels. Despite this, as of January 6, the reduction has amounted to 158 thousand barrels per day.