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Russia cuts oil output in early Jan - industry sources

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Reuters MOSCOW

MOSCOW (Reuters) - Russia cut its oil production in early January after an agreement with OPEC to cap global crude output, two people from the energy sector told Reuters on Monday.

Russia's oil and gas condensate output averaged 11.1 million barrel per day (bpd) in the period from Jan. 1 to Jan. 8, down from October's level of 11.247 million bpd, a starting point for output reduction agreed with OPEC, according to the two sources.

Russian Energy Minister Alexander Novak had said the targeted level of Russian output was 10.947 million bpd after the production cut deal.

(Editing by Olesya Astakhova; Writing by Andrey Ostroukh; Editing by Vladimir Soldatkin)

 

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First Published: Jan 09 2017 | 2:13 PM IST

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