Russia’s production will slip next year to 10.86 million barrels a day from 10.98 million. REUTERS/Alexander Astafyev/RIA Novosti
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Two senior Russian officials talked up potential cooperation with OPEC to prop up prices, but data showed oil production in Russia hit a post-Soviet high in January, suggesting the world's top producer was locked in a fierce struggle for market share. Russia has in the last week sent mixed signals about possible cooperation with OPEC to support prices. According to Tuesday's data, Russia extracted 46 million tons of oil and gas condensate last month, up 0.7 percent from 45.69 million tons in December.Gas production was at 61.94 billion cubic meters last month, or at 2 bcm a day.Gazprom Neft, the oil arm of state gas producer Gazprom, plans to start two new major oil projects, Novoport and Messoyakha later this year.
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