Russia’s Energy Ministry said the nation reduced its oil output by about 700,000 barrels a day last month, according to a person familiar with the figures.
Yet that figure is inconsistent with data on the nation’s March seaborne exports and supplies to domestic refineries — adding to the uncertainty over how much oil Russia actually pumps.
The Kremlin pledged to curb crude-only output by 500,000 barrels a day between March and December in retaliation for Western trade restrictions and a price cap imposed by the Group of Seven industrialized nations. The reduction was 40% higher, according to the Energy Ministry data.
Source : Russia reports cutting oil output by 700,000 barrels per day in March
