RUSSIA’S DAILY CRUDE OUTPUT HIT 30 YEARS RECORD HIGH IN 2017.
3 JANUARY, 2018, 17:30
Oil production in Russia in 2017 continued its growth, reaching a daily high of 10.98mn b/d for a maximum of 30 years, although the growth rate decreased compared to 2016 due to the country's participation in the global agreement of the OPEC+.
The data of the Russia’s Energy Ministry Energy showed that the production of oil and gas condensate in December was 10.95mn b/d, up from 10.94mn b/d in November and 10.93 in October 2017.
The liquid hydrocarbons production increased in December to 46.32mn t from 44.78mn t in November, mainly due to the 0.2% increase in Russia’s state-owned giant Rosneft output.
In total, in 2017 the average daily production was 10.98mn b/d, up from 10.96mn b/d in 2016 and 10.72mn b/d in 2015. In total, 2017 production amounted to 546.8mn t compared to 547.5mn t in 2016, which was one day longer.
Oil production in Russia has been growing for the past nine consecutive years.
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