The cuts relate to crude oil only, without gas condensate, a
type of light oil.
Russia plans to cut refinery runs in April, allowing the
state to maintain crude oil exports while sticking to previously
announced output cuts, data from industry sources and Reuters
calculations showed
Russia's oil and gas output last year defied numerous
predictions of a decline, rising by 2% to 535 million tonnes
(10.7 million bpd) thanks to a jump in sales to Asia,
especially, to India and China.
(Reporting by Reuters
Editing by Mark Potter)
March 29 (Reuters) - Russian oil production fell by
around 300,000 barrels per day (bpd) in the first three weeks of
March as Moscow reduces output in the face of Western sanctions,
two sources familiar with the data told Reuters on Wednesday.
According to the sources, Russian crude oil production
excluding gas condensate was around 9.78 million bpd in the
period, down from about 10.07 million bpd for the whole of
February on average.
Russia is targetting oil production cuts of 500,000 bpd, or
around 5% of output , to 9.5 million bpd on average
through June.
Deputy Prime Minister Alexander Novak said on Friday Russia
was very close to achieving that target.
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