MOSCOW, April 1. /TASS/. The Russian oil industry currently undergoes restructuring and a temporary drop in oil production can be observed, Deputy Prime Minister Alexander Novak told reporters.

"There is a very serious situation at present with restructuring, considering evolving market situation: logistics and financing issues. Certainly, some volatility is in place," Novak said.

According to statistics, Russia’s average daily oil production in March lost 0.3% to 1.506 mln tonnes. The slowdown can be attributed to US, EU and UK sanctions against Russia since early March because of the Russian special military operation in Ukraine.