BR100 Increased By (0.36%)
BR30 Decreased By (-0.13%)
KSE100 Increased By (0.22%)
KSE30 Increased By (0.37%)
AGHA 6.68 Increased By ▲ 0.01 (0.15%)
BECO 4.37 No Change ▼ 0.00 (0%)
BML 57.32 Increased By ▲ 0.88 (1.56%)
BOP 30.35 Increased By ▲ 0.01 (0.03%)
CNERGY 13.12 Increased By ▲ 0.03 (0.23%)
CSIL 5.41 Increased By ▲ 0.05 (0.93%)
FCCL 52.79 Increased By ▲ 0.41 (0.78%)
FFL 14.72 Decreased By ▼ -0.02 (-0.14%)
FNEL 1.12 No Change ▼ 0.00 (0%)
KEL 6.09 No Change ▼ 0.00 (0%)
KOSM 5.73 Increased By ▲ 0.77 (15.52%)
LOTCHEM 26.46 Decreased By ▼ -0.89 (-3.25%)
MLCF 93.16 Increased By ▲ 0.41 (0.44%)
NBP 164.66 Decreased By ▼ -0.32 (-0.19%)
NCPL 55.66 Increased By ▲ 0.02 (0.04%)
NPL 61.16 Decreased By ▼ -0.10 (-0.16%)
OGDC 316.73 Decreased By ▼ -1.03 (-0.32%)
PACE 9.87 Decreased By ▼ -0.06 (-0.6%)
PAEL 35.63 Increased By ▲ 0.13 (0.37%)
PIBTL 14.68 Increased By ▲ 0.11 (0.75%)
PPL 226.91 Decreased By ▼ -0.88 (-0.39%)
PRL 93.02 Increased By ▲ 0.45 (0.49%)
PTC 60.26 Decreased By ▼ -0.37 (-0.61%)
SSGC 23.81 Increased By ▲ 0.01 (0.04%)
TBL 8.75 Increased By ▲ 0.07 (0.81%)
TELE 7.80 Increased By ▲ 0.02 (0.26%)
TPL 22.35 Increased By ▲ 0.12 (0.54%)
TPLP 12.97 Increased By ▲ 0.30 (2.37%)
TREET 22.16 Decreased By ▼ -0.38 (-1.69%)
TRG 56.56 Decreased By ▼ -1.24 (-2.15%)

imageMOSCOW: Russian oil output fell slightly to 10.84 million barrels per day (bpd) in April, Energy Ministry data showed on Monday, as production declined at large energy firms Lukoil, Gazprom Neft and Gazprom .

Two sources close to the ministry had told Reuters that production would edge down in April because of seasonal maintenance at oilfields and refineries.

Russian oil output hit its highest in nearly 30 years in March at 10.91 million bpd.

Leading global oil producers are trying to keep production high to preserve market share, a move that has driven oil prices sharply lower since mid-2014.

At a meeting in Doha last month, crude producers including Russia failed to clinch a deal to freeze output, which suggests the battle for market share will continue.

The Energy Ministry data showed production by Lukoil fell 1.1 percent in April from the previous month, while the decline for Gazprom Neft was 1.2 percent and Gazprom 13.1 percent.

Gazprom is Russia's largest producer of natural gas but produces relatively modest volumes of oil.

Top oil producer Rosneft produced 0.5 percent more oil in April.

In tonnes, Russian oil output reached 44.368 million in April versus 46.149 million in March.

Russian oil output has repeatedly surprised on the upside over the past decade, rising from as low as 6 million bpd at the turn of the millennium.

Oil experts have repeatedly predicted a decline but it has yet to happen.

Copyright Reuters, 2016

Comments

Comments are closed for this article.