MOSCOW (Reuters) – Russian oil output fell to 11.11 million barrels per day (bpd) in May, down from 11.23 million bpd in April, Energy Ministry data showed on Sunday, the lowest level since June 2018, amid a crisis over contaminated oil and a global deal to cut output.
June 2018 production was 11.06 million bpd. In tonnes, oil output reached 47.004 million versus 45.975 million in April, which is one day shorter than May.
The production fall has mainly resulted from the contamination of oil in the Russian Druzhba pipeline, which used to ship 1 million bpd, or 1 percent of global oil demand. The pipeline, built in the 1960s, carries Russian oil to Europe, including Germany, Hungary, Poland and Slovakia.
Russia expects to clean up the pipeline in 6 to 8 months.
The Organization of Petroleum Exporting Countries and other large oil-producing countries led by Russia agreed to curb output by a combined 1.2 million bpd for six months starting from Jan. 1, in order to balance the global oil market.
Of this, Russia pledged to cut its production by 228,000 bpd from the deal baseline of the October 2018 level, to 11.18 million bpd.
OPEC and Russia are excepted to gather in Vienna later this month or in early July to discuss what to do in the second half of the year.
Top oil exporter Saudi Arabia has raised production in May, a Reuters survey found, but not by enough to compensate for lower Iranian exports that collapsed after the United States tightened the screw on Tehran.
The 14-member OPEC pumped 30.17 million barrels per day (bpd) in May, down 60,000 bpd from April and the lowest OPEC total since 2015, the Reuters survey showed.
Russian natural gas production was at 63.28 billion cubic meters (bcm) last month,or 2.04 bcm a day, versus 64.3 bcm in April.
Reporting by Vladimir Soldatkin; Editing by Clarence Fernandez
Russian oil output hits 11-month low in May - Reuters
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