MOSCOW: Russian oil production in May fell to 10.947 million barrels per day (bpd) from 11 million bpd in April as it complied with a pact by 22 oil-producing nations to lower output, Energy Ministry data showed on Friday.
Production fell below the 11 million bpd mark for the fist time since August 2016, when it stood at 10.71 million bpd.
Moscow has pledged to cut output by 300,000 bpd from a baseline of 11.247 million bpd based on its output last October.
In tonnes, oil output rose to 46.298 million versus 45.002 million in April reflecting the month being one day longer.
Eleven members of the Organization of the Petroleum Exporting Countries and 11 other oil-producing countries led by Russia agreed to cut production by 1.8 million bpd in the first half of 2017 to support oil prices and reduce oversupply.
They agreed on May 25 to extend the deal until March 2018.
In May, all leading Russian oil producers reduced their extraction.
Rosneft's production in May edged down by 0.2 percent from April, Lukoil's output was down 0.8 percent and Surgutneftegaz's was down 0.7 percent.
Pipeline exports stood at 4.518 million bpd, down from 4.736 million bpd.
Energy Minister Alexander Novak said on Friday that crude oil exports were seen at 257 million tonnes this year, rising to 260.7 million tonnes in 2018.
He has also said the ministry would lower its forecast for oil output to 547 million tonnes this year from a previously expected 551 million tonnes due to the global output reduction deal.
Gas production in May rose to 54.63 billion cubic metres (bcm), or 1.76 bcm a day, from 54.17 bcm in April.
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