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Rosneft says first-quarter oil output down 1.2 percent due to OPEC deal

Reuters  |  MOSCOW 

(Reuters) - output of Russia's largest declined by 1.2 percent year-on-year in the first quarter because of a global deal with the designed to curb output, the company said on Monday.

said production of liquid hydrocarbons, or oil and gas condensate, stood at 4.57 million barrels per day in January - March 2018.

Total average daily hydrocarbon production was at 5.71 million barrels of in the first quarter of 2018, close to levels of the first quarter 2017.

January - March stood at 16.87 billion cubic metres, down 2 percent from the same period a year ago.

(Reporting by and Olesya Astakhova; Editing by Andrey Ostroukh)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 11:45 IST