Report: Russia’s oil output slips to 11.24 mln bpd in Sep 1–29

MOSCOW, Sep 30 (PRIME) -- Russia’s oil and gas condensate output decreased to 11.24 million barrels per day between September 1 and 29 as compared to August’s average of 11.29 million barrels per day, Reuters reported on Monday citing two sources familiar with the data.

In November 2016, OPEC and non-OPEC states including Russia first decided to reduce their oil output to rebalance the market, and agreed on additional reduction in December 2018. In July, they prolonged the deal until April 2020.  Under the deal, Russia agreed to reduce output by 228,000 barrels per day from an October 2018 baseline.

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