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The average daily oil output in Russia has updated the Soviet period highest record



The oil production level in Russia has reached 47,4 million tons breaking the post-Soviet period record



03.Jan.17 10:59 AM
By Anna Tuzova
Photo Toinnov.com

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The average daily oil output in Russia has updated the Soviet period highest record
The average oil and condensate production in RF has grown by 3,74% per year in December to 11,21 million barrels per day, according to Bloomberg with a link to the preliminary figures provided by the Fuel and Energy Complex Central Dispatch Control. 

As has been stated earlier by the news agency, the oil production in Russia has exceeded the mark of 11 million barrels per day in September for the first time in the post-Soviet period since 1991.

The total crude output in Russian Federation amounted to 47,4 million tons in December. The average rate of RF oil exports has increased by 3,86% per year in December and amounted to 5,36 million barrel.

Average natural gas output in Russia has grown by 4,6% to 2,14 billion cubic meters per day in December, according to the Fuel and Energy Complex Central Dispatch Control’s data. 

To be reminded, after the OPEC has signed an agreement on oil output limiting, ‘black gold’ prices went up. 

Besides, non-OPEC countries signed an agreement to reduce the output by 600 thousand barrel per day. Countries, belonging to a cartel would cut the production by 1,2 million barrels per day. Meanwhile OPEC predicts that the balance will be reached by the mid 2017. The expectations are based on the agreement have been put in Wien on 10th December. 



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