According to the results of April this year, oil production in the Russian domestic market amounted to 9.6 million barrels per day, contradicting Moscow’s promise to reduce this figure by 500 thousand barrels. In the second month of spring, the daily production of raw materials in the Russian Federation fell by only 200 thousand barrels per day, informs Bloomberg cites a report by analysts from the International Energy Agency (IEA).
4 May, Deputy Prime Minister Alexander Novak declarationRussia is currently reducing its daily oil production by 500 thousand barrels compared to February. At the same time, follow-up will be made according to independent sources.
“In April, oil production in Russia amounted to about 9.6 million barrels per day. That’s just 200,000 barrels below the February baseline for cuts. According to our estimates, Moscow did not fully meet the announced 500,000 barrels per day supply cut. Indeed, Russia may be increasing volumes to make up for lost revenue.
Despite the decline in daily oil production, IEA analysts concluded that Russia’s oil export revenues rose by $1.7 billion in April this year to $15 billion, but still this figure fell by 27 percent compared to the same period last year.