Russia Cuts Oil Output By 124,000 BPd In Feb
Tuesday, February 28, 2017
MOSCOW - Russia cut its oil output by around 124,000 barrels per day (bpd) in February 1-27 from the October level and compared with a reduction of 117,000 bpd in January, Interfax news agency reported, citing a source familiar with the data.
Russia has said it will cut output by 200,000 bpd by the end of the first quarter compared with October's levels. It has also said it will cut by a further 300,000 bpd in April.
Russia's total oil production for the first 27 days of February was 40.9 million tonnes (11.06 million barrels per day), Interfax said.
Russian Energy Minister Alexander Novak said on Monday the country could cut production faster than it had previously expected.