Sunday, 2 June 2019

Russian oil output hits 11-month low in May - Reuters

Russian oil output hits 11-month low in May - Reuters:

Russian oil output fell to 11.11 million barrels per day (bpd) in May, down from 11.23 million bpd in April, Energy Ministry data showed on Sunday, the lowest level since June 2018, amid a crisis over contaminated oil and a global deal to cut output.

June 2018 production was 11.06 million bpd. In tonnes, oil output reached 47.004 million versus 45.975 million in April, which is one day shorter than May.

The production fall has mainly resulted from the contamination of oil in the Russian Druzhba pipeline, which used to ship 1 million bpd, or 1 percent of global oil demand. The pipeline, built in the 1960s, carries Russian oil to Europe, including Germany, Hungary, Poland and Slovakia.

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