OREANDA-NEWS. The average daily oil production in Russia from October 1 to October 15, 2019 amounted to 1.532 million tons, which is 2.7 thousand tons higher than the same level of the previous month, follows from the data of the Central Dispatch Department of the Fuel and Energy Complex (CDU TEK) on October 15. When recalculating the data into barrels using the 7.33 coefficient, Russian average daily production from October 1 to October 15 amounted to almost 11.23 million barrels per day, which is 19.7 thousand barrels less than in September.

Russia and the OPEC + countries agreed to extend the decline in oil production from July. As part of this deal, Russia is reducing oil production by 228 thousand barrels per day to the level of October 2018, when it amounted to 11.421 million barrels. Thus, compared with the baseline, Russia reduced production by 191.4 thousand barrels per day, or by almost 84% of the quota.

In total, OPEC + countries agreed to reduce oil production by 1.2 million barrels per day, of which 812 thousand barrels are in OPEC countries and 383 thousand barrels are in non-OPEC countries.