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Russian oil output jumped to 11.35 million barrels per day in April

Russia raised its oil and gas condensate output in April to 46.45 million tonnes or 11.35 million barrels per day versus 11.29 million barrels in March, Interfax agency said today, quoted by Reuters.
According to the information, which cites energy ministry data, April yield was the highest average monthly yield since January 2019, when the indicator was at 11.38 million barrels per day, BTA reported.

The Organization of Petroleum Exporting Countries (OPEC), Russia and other producing countries united in the OPEC+ group agreed last month to cut their total oil output by nearly 10 million barrels per day, or 10 percent of global supply in May and July, to deal with the economic consequences of the coronavirus pandemic.

Russia is expected to cut its output by 2.5 million barrels per day against an 11 million base in May and June.

These figures do not take into account gas condensate or light oil.

The Russian Energy Ministry does not present separate data on the production of gas condensate.

Russia has pledged to fulfil its commitments in full, with output forecast to fall between 480 and 500 million tonnes or 9.6 million to 10 million barrels per day this year - the first annual decline since 2008.

Natural gas output in April reached 55.14 billion cubic meters - down 14.3 per cent year-on-year, Interfax agency notes.

Russian oil exports increased 2.2 per cent year-on-year to 83.79 million tonnes in the January-April period. /

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