10 Feb 2016 15:18

OPEC forecasting reduction of Russian oil production in 2016 by 60,000 b/d to 10.74 mln barrels

MOSCOW. Feb 10 (Interfax) - The Organization of Petroleum Exporting Countries (OPEC) is forecasting the reduction of oil production by Russia from 10.8 million barrels a day in 2015 to 10.74 million barrels a day, the cartel said in a monthly review.

In general, for CIS countries, OPEC is expecting a fall in oil production this year by 1.16 million barrels a day to 13.48 million barrels a day. The main reduction will occur due to Russia, at slightly lower rates will production fall in Kazakhstan and Azerbaijan.