Russia’s Crude Production In January

Oil

Russia’s crude oil production (including gas condensate) in January averaged 11.1M b/d, down by 96K b/d m-o-m and 119K b/d lower than its October 2016 output (when Russia joined a deal by OPEC to cut supply), data from the country’s Ministry of Energy shows. However, compared to January 2016, output was still up by 201K b/d.