UPDATE: Agency: Russia cuts oil output 1.2% to 11.3 mln bpd Jan 6

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MOSCOW, Jan 9 (PRIME) -- Russian oil companies reduced oil and condensate output by 1.2% to 11.3 million barrels per day on January 6 as compared with December 29, according to data of CDU TEK, an agency that provides data and analysis to the Energy Ministry, released on Monday.

Bloomberg reported later on Monday, citing an official of CDU TEK, who spoke on a condition of anonymity, that Russia reduced the output by 130,000 barrels daily from October 2016 to 11.1 million barrels on January 1–8.

The total oil and gas condensate production amounted to 12.13 million tonnes from January 1 through January 8.

OPEC states agreed to reduce their oil production by 1.2 million barrels daily to 32.5 million barrels at a meeting on November 30. Russia joined the agreement on December 10 with a promise to cut output by 300,000 barrels daily.

Russian Energy Minister Alexander Novak later announced a goal for oil companies to cut the output by 50,000 barrels daily in January, 200,000 barrels in March and about 300,000 by May.

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