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MOSCOW, February 20. /TASS/. Russia boosted oil production by 4% year-on-year in December 2016 to 10.49 mln barrels per day, according to updated data of the Joint Organization Data Initiative (JODI) database.
Saudi Arabia at the same time increased production by 3% to 10.46 mln barrels per day. Russia outperformed Saudi Arabia in terms of production output for the first time from March 2016.
Russia and Saudi Arabia are participating in the OPEC and non-OPEC agreement on oil production limiting since January 1, 2017. Russia will cut its oil production by 300,000 barrels per day and Saudi Arabia - by 486,000 barrels daily.