Of energy theoretically considered the possible reduction of oil production by 5%


Moscow. September 22. INTERFAX.RU – oil Production in Russia will grow, although during the year, the energy Ministry together with the oil companies have studied the question, is there a technical possibility of reducing it if needed.

“We believe that it (the reduction of oil production by 5%) is what is technologically possible”, – told reporters the Minister of energy Kirill Molodtsov, did not specify what level of production is likely this reduction. He stressed that such a possibility does not legally enshrined.

The energy Ministry in January 2016, when oil prices approached $30 per barrel, gave oil companies the possibility of reducing oil production by 5%. After discussions it was decided that the technological possibility of reducing production there in the summer, but the economic sense is not a reduction and freezing of production. Russia began negotiations with the OPEC countries about the possibility of freezing production at the level of January. While negotiations have not given result.

Earlier Molodtsov noted that in September of this year daily oil production in Russia has reached historical highs in 11,086 million barrels.

Tagged with:

Have any Question or Comment?

Leave a Reply

Your email address will not be published. Required fields are marked *