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OPEC revises Russian oil production outlook to 11.08 mln barrels daily in 2017

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OPEC does not see problems regarding growth of Russian oil export

MOSCOW, March 14. /TASS/. Russia’s oil supply for 2017 has been revised up by 45,000 barrels per day following the adjustment of 181,000 barrels per day in the first quarter of 2017 and is seen to contract by 22,000 barrels per day to an average yearly supply of 11.08 mln barrels per day, OPEC said in its March report on Tuesday.

"Russia’s total liquids output in February 2017 was 11.21 mln barrels daily," OPEC said.

It was reported earlier at the end of 2016, OPEC and non-OPEC countries concluded an agreement to reduce oil production for six months. The total reduction in the first half of 2017 will reach 1.7-1.8 mln barrels per day. Russia is to reduce daily oil production by 300,000 barrels.

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