Russia’s oil production is declining to 9.5 million barrels per day


Source: MOSCOW – Reuters

Informed sources told Reuters on Wednesday that Russia’s production of oil and gas condensates decreased to 1.296 million tons per day, or the equivalent of 9.5 million barrels per day in the period from May 1 to the fifth of it, after a global agreement to reduce production.

The decline comes from the 11.35 million bpd that Russia was producing on average in April.

Russian oil production fell in the framework of a global agreement to reduce production with the aim of combating the repercussions of the spread of the Coruna virus, which hampered economic activity around the world and affected demand for primary commodities.


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