Russian oil production declined to 44.6Mt in Sept., down 1.9% y-o-y

Russian crude oil production declined to 44.6m tonnes in September, down 3.3% m-o-m and down 1.9% y-o-y. This is the first annual declined since February. Despite the fall in output in September, production increased to 409.3m tonnes, up 2.8m tonnes or 0.7% y-o-y.

Crude oil exports declined to 19.9m tonnes, down 6.2% m-o-m and down 5.7% y-o-y. Russia exported 192.8m tonnes of crude oil over the Jan.-September, up 3.7m tonnes or 1.9% y-o-y.

Source: Ministry of Energy