Oil Output Stays Up

April 3, 2012

Russian oil output stood at 10.36 million barrels per day in March, unchanged from a post-Soviet monthly high in February, Energy Ministry data showed.

Crude production was 43.8 million tons last month, the ministry said. Russia is broadly expected to increase output by 1 percent this year from last year's average of 10.27 million barrels per day if it can control declines at old western Siberian fields and sustain output growth from fields in more remote provinces.

Daily gas production declined slightly after a bump in production to help meet elevated demand during a cold snap in early February. It totaled 62.19 billion cubic meters in March, or 2.00 bcm per day. Russia's daily gas production was 2.07 bcm in February.

(Reuters)

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