Oil production level in Russia dropped below the targets of OPEC
Almaty June 3 KazTAG - Russia has decreased it's oil production by 76 thousand barrels per day. This amount is below the objectives of the agreement on the reduction of oil production between the Organization of Petroleum Exporting Countries (OPEC) and countries outside the organization (OPEC), reports Economic Times.
"This happened after the buyers refused to accept the oil supplied through the "Druzhba" pipeline due to pollution with organic chlorides", - the report said.
It is reported in May, Russia produced a little more than 47 million tons of crude oil and condensate, which means that the daily average is about 11.114 million barrels and 76 thousand barrels per day below the limit set for Russia as part of OPEC agreements.
In 2019, May was the first full month of Russia's compliance with the agreement on limiting oil production, just a few weeks before its meeting with OPEC members to determine the need to extend production restrictions.
According to the publication, Russia has promised to reduce oil production by 228 thousand barrels per day from the October base level of about 11.418 million barrels per day.
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