Russia’s oil output steadies in January

According to data released by Russia’s Energy Ministry, the country’s oil production in January was 46.31 million metric tonnes, or 10.95 million barrels per day (bpd), almost unchanged from 46.34 million tonnes in December 2017, Oilprice.com reports.

In the month of December, Russia’s output levels had risen at foreign firm-led projects, which compensated for small declines at major Russian oil producers Rosneft and Lukoil.