Russia cuts oil output further in February to comply with Opec pact

The nation curtailed its January supply by about 47,000 barrels a day from the baseline, according to the Energy Ministry

Russia’s oil producers cut their output deeper in February as the nation strives to implement an agreement with OPEC following criticism that it was moving too slowly.

The country produced 43.3 million tons of oil last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s equivalent to 11.336 million barrels a day, down 82,000 barrels per day from the October baseline of the OPEC+ deal, Bloomberg calculations show.

Russia’s Energy Ministry earlier this week said February output was 97,000 barrels a day lower than in October. Bloomberg’s calculation of the country’s cuts also differed from official figures in January.