Russia Cuts Oil Production By Less Than Agreed Last Month, Bloomberg Says

SEATTLE (Oil Monster): Russia cut its crude oil production by less than pledged last month, exceeding a target agreed on in March with the Organization of Petroleum Exporting Countries (OPEC), Bloomberg news reported, citing calculations based on official data.

Daily crude production averaged about 1.285 million tons last month, equivalent to 9.418 million barrels per day, Bloomberg said, citing anonymous sources from energy ministry data.

Courtesy: www.reuters.com