Russia Pumps 10.48 Million Barrels a Day of May Oil, Data Show
Russia, the world’s biggest oil producer, increased monthly crude output by 0.3 percent in May to the highest level of the year, preliminary data from the Energy Ministry’s CDU-TEK unit show.
Output of crude and condensate was 44.3 million metric tons, or 10.481 million barrels a day, according to the figures e-mailed today. Oil exports declined 6.2 percent from April to 22.2 million tons, or 5.26 million barrels a day, the data show.
OAO Gazprom (GAZP), Russia’s gas export monopoly, boosted output by 5.8 percent to 353,000 barrels a day. OAO Rosneft (ROSN), the world’s largest publicly traded oil producer, and its subsidiary OAO TNK-BP produced 3.85 million barrels last month, up 0.3 percent from April, according to the data.
Russia set a post-Soviet-era production record of 10.49 million barrels a day in November. Soviet-era production in Russia peaked in 1987 at 11.48 million barrels a day. President Vladimir Putin has called for production to be maintained at more than 10 million barrels.
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