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8
Feb

Gazprom implements OPEC’s agreement with its cut in production in two times

Gazprom is a leader in terms of reducing oil and gas production among the largest energy companies. Despite of its plans to increase production, the company’s production declined by 2.2% while other companies – no more than 1%. According to OPEC, Russian energy giants have cut their production by 300,000 barrels per day. In fact, Russian companies exceeded this plan more than twice. Industry players are wondering whether it was a deliberate act or influence of some circumstantial factors such as frosty winter’s impact on producing fields.  

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