Russian oil production of 11.07mn b/d (47mn t) in May was the lowest since June 2018 - down by 1.1pc against April, but up by 1.4pc on the year. Crude and condensate output may have been curbed by the shutdown of the Druzhba pipeline after crude was found to contain excessive organic chlorides. Preliminary energy ministry data suggest that May production was in compliance with Russia’s commitment to the Opec/non-Opec agreement — to reduce output by 228,000 b/d in January-June, against an October baseline of 11.37mn b/d. Rosneft output was 2.9pc lower than in April and down by 0.2pc on the year at 3.8mn b/d — excluding production from Bashneft, which the energy ministry still records separately. Declines at the 3.8bn bl Vankor and 408mn bl Suzun fields in east Siberia, and west Siberian subsidiaries Uvat and Yuganskneftegaz, were only partly offset by increased production at east Siberia’s 2.56bn bl Yurubcheno- Tokhomskoye, 1.8bn bl Tagul and 960mn bl Srednebotuobinskoye greenfields and west Siberian greenfield unit Kondaneft.
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