MOSCOW: Russian oil output fell slightly to 10.84 million barrels per day (bpd) in April, Energy Ministry data showed on Monday, as production declined at large energy firms Lukoil, Gazprom Neft and Gazprom.
Two sources close to the ministry had told Reuters that production would edge down in April because of seasonal maintenance at oilfields and refineries.
Russian oil output hit its highest in nearly 30 years in March at 10.91 million bpd.
Leading global oil producers are trying to keep production high to preserve market share, a move that has driven oil prices sharply lower since mid-2014.
At a recent meeting in Doha, crude producers including Russia failed to clinch a deal to freeze output, which suggests the battle for market share will continue.
The Energy Ministry data showed production by Lukoil fell 1.1 percent in April from the previous month, while the decline for Gazprom Neft was 1.2 percent and Gazprom 13.1 percent.
Gazprom is Russia’s largest producer of natural gas but produces relatively modest volumes of oil. Rosneft produced 0.5 percent more oil in April.
In tons, Russian oil output reached 44.368 million in April versus 46.149 million in March. Russian oil output has repeatedly surprised on the upside over the past decade, rising from as low as 6 million bpd at the turn of the millennium.
Oil experts have repeatedly predicted a decline but it has yet to happen.
Two sources close to the ministry had told Reuters that production would edge down in April because of seasonal maintenance at oilfields and refineries.
Russian oil output hit its highest in nearly 30 years in March at 10.91 million bpd.
Leading global oil producers are trying to keep production high to preserve market share, a move that has driven oil prices sharply lower since mid-2014.
At a recent meeting in Doha, crude producers including Russia failed to clinch a deal to freeze output, which suggests the battle for market share will continue.
The Energy Ministry data showed production by Lukoil fell 1.1 percent in April from the previous month, while the decline for Gazprom Neft was 1.2 percent and Gazprom 13.1 percent.
Gazprom is Russia’s largest producer of natural gas but produces relatively modest volumes of oil. Rosneft produced 0.5 percent more oil in April.
In tons, Russian oil output reached 44.368 million in April versus 46.149 million in March. Russian oil output has repeatedly surprised on the upside over the past decade, rising from as low as 6 million bpd at the turn of the millennium.
Oil experts have repeatedly predicted a decline but it has yet to happen.
