Russia reduced oil production by 97 thousand barrels per day on average against the level of October 2018, being the reference one in the OPEC+ oil production capping deal, the Ministry of Energy says on Friday citing Minister Alexander Novak, Trend reports referring to TASS.
Oil production declined by 145,000 barrels daily against December 2018, when the country reached the production peak.
Production of oil as of the end of February 2019 was 118,000 barrels per day lower than last October and 165,000 barrels per day lower than last December, the ministry said. "Russia fully honors undertaken commitments in accordance with earlier stated plans of phased oil production cut by the end of this March," Novak said.