Russia: Increased gas condensate production caused non-compliance with oil cuts
Economy News _ Baghdad
MOSCOW (Reuters) - Russia's oil production in September exceeded the global production cut deal due to a surge in gas condensate production as the country prepared for winter, local news agencies reported on Sunday.
Russia's output fell to 11.25 million bpd last month from 11.29 million bpd in August but remains above the ceiling set in the global deal.
Under the agreement between OPEC and allied producers, Russia agreed to cut production by 228 thousand barrels per day from its level in October 2018.
Energy Minister Alexander Novak said the cut was 200,000 barrels last month, reaffirming that his country would do its utmost to meet its full obligations this month.
"We have specific commitments linked to, among other things, the winter response to the production of gas condensate," TASS news agency reported.
Production of gas condensate, a light oil, falls under total oil production in Russian statistics.
OPEC, Russia and other producers in the so-called OPEC + alliance have agreed to cut supplies by 1.2 million barrels per day from the beginning of this year.
Several countries, including Saudi Arabia, complain that Russia is not in full compliance.