Russian oil production rose to a post-Soviet record high of 11.16 million barrels per day (bpd) in 2018, exceeding for the first time the 11 million bpd annual average mark, data from its energy ministry showed on Wednesday.
The mark surpassed the previous annual record average of 10.98 million bpd set in 2017. Russian oil output reached 555.838 million tonnes last year, against 547 million tonnes in 2017, according to Energy World.
Russian Energy Minister Alexander Novak has said that the country's oil production in 2019 may decline to 552 million tonnes due to a global deal.
The Organization of the Petroleum Exporting Countries (OPEC) and other large oil producers including Russia agreed in December to cut their combined crude output by 1.2 million bpd from January to halt a decline in oil prices.
