Energy ministry reports that Russia's crude oil production fell 3.5% between January and May.

The Russian energy ministry announced on Wednesday that the country produced 211 millions metric tons of oil (10.24million barrels per day) between January and the end of May. This is a 3.5% decrease compared to the same period last year.

The data were revealed during a presentation by Energy Minister Sergei Tsivilev before the Federation Council (Russia's upper chamber of parliament).

Gas condensate is a form of light oil.

According to the Organization of the Petroleum Exporting Countries (OPEC), Russia's

Crude oil production

, excluding condensate gas, increased by 41,000 bpd to 9,025 million bpd. This is below the country's OPEC+ quota, which is 9.161 millions bpd.

The presentation of the Minister stated that the Russian natural gas production fell by 3.0% on an annual basis to 290 billion cubic meters over the same 5-month period. However, coal production rose by 0.1%, to 187 millions metric tons, during the same time period.

Since the beginning of its so-called special military operation (SMO) in Ukraine, in February 2022, Russia has classified a number of statistical items. This includes production of oil.

The country's oil and gas condensate output is expected to be

This year, 516 millions tons.

According to the Energy Ministry, the oil price fell by 2.7% last year, despite an agreement between the OPEC+, a group of leading global producers, to reduce output. Reporting by Olesya Almakhova and Anastasiya Lirchikova, Writing by Gleb Soldatkin and Vladimir Stolyarov; Editing and editing by Andrew Osborn & Louise Heavens

(source: Reuters)