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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Russia's daily production of oil is at its highest level in 30 years

    rocky
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     Russia's daily production of oil is at its highest level in 30 years Empty Russia's daily production of oil is at its highest level in 30 years

    Post by rocky Thu Jan 04, 2018 4:44 am

    [size=30]Russia's daily production of oil is at its highest level in 30 years[/size]
    04/01/2018 08:11 | Number of readings: 136
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     Russia's daily production of oil is at its highest level in 30 years Thumbnail.php?file=554481_187129847_321631697
    Trend Press / Agencies
    Russia's daily production of oil continued to grow in 2017, its highest level in 30 years, although the pace of growth slowed from 2016 due to the country's participation in a global OPEC-led supply reduction agreement.
     
    OPEC and other major producers have agreed to cut their combined supply by 1.8 million bpd from the beginning of 2017 to support prices.
     
    Russia said it would cut production by 300,000 barrels per day from the highest monthly level in 30 years at 11.247 million barrels per day in October 2016 and achieved the target reduction by the second quarter. OPEC and Russia agreed to extend the cut until the end of 2018.
     
    Oil and gas condensate production reached 10.95 million bpd in December, up from 10.94 million bpd in November, according to data from the Russian Energy Ministry.
     
    In tonnage, oil production rose to 46.322 million tonnes last month from 44.782 million tons in November, boosted by a 0.2 percent increase in Russia's largest crude producer Rosneft.
     
    For the whole of 2017, the average production was 10.98 million barrels per day, compared with 10.96 million barrels per day in 2016 and 10.72 million barrels per day in 2015. In tons, Russia's oil production was 546.8 million tons last year, compared to 547.5 million tons in 2016, Which was longer by one day. Reuters uses the barrel to 7.33 ton per one.
     
    Russian oil minister Alexander Novak said oil production in 2018 is expected to remain at 547 million tonnes if the cut continues until the end of the year under the deal.
     
    "Production is likely to remain around current levels following OPEC and other producers' final decision to extend the cut until the end of 2018," the IEA said in a report in December.
     
    Oil markets were boosted by a year of reduced production and strong demand from China. For 2017, crude prices rose 20 percent to about $ 67 a barrel.
     
    The United States' growing production, which is close to 10 million barrels a day, is the only factor pushing the price horizon in 2018.
     
    Russia produced 63.5 billion cubic meters of natural gas last month, up from 60.6 billion cubic meters in November.




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