Russia’s May 1-21 oil output falls to 11.147 mln bpd -industry

MOSCOW, May 22 (Reuters) – Russia’s average oil production May 1-21 fell to an average of 11.147 million barrels per day (bpd) from 11.23 million bpd in April, two industry sources familiar with the data told Reuters on Wednesday.

Russian oil output has been hurt in May as one of the country’s main export routes to Europe, the Druzhba pipeline, remains mostly shut after the discovery of contaminated oil.

The May 1-21 daily average was the lowest since June 2018, when output fell to 11.06 million bpd, Energy Ministry data shows.

Output May 1-16 was 11.156 million bpd, below the 11.18 billion bpd level Russia pledged as part of an international deal among producers to curb output to support prices.

The Organization of the Petroleum Exporting Countries and other producers led by Russia agreed to cut their oil output by 1.2 million bpd.

Russia undertook to cut 228,000 bpd from October 2018, the baseline for the agreement. In October last year, Russia was pumping 11.41 million bpd.

Russia’s energy ministry declined to comment. (Reporting by Gleb Gorodyankin and Olesya Astakhova, writing by Olga Yagova; editing by Jason Neely)


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