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Russia's 2016 oil output seen rising 2.5 percent to 547.5 million T - Energy Minister
December 21, 2016 / 7:21 AM / 9 months ago

Russia's 2016 oil output seen rising 2.5 percent to 547.5 million T - Energy Minister

A worker checks the valve of an oil pipe at an oil field owned by Russian state-owned oil producer Bashneft near the village of Nikolo-Berezovka, northwest of Ufa, Bashkortostan, Russia, January 28, 2015. REUTERS/Sergei Karpukhin/File Photo

MOSCOW (Reuters) - Russia’s oil output in 2016 is expected to total 547.5 million tonnes, a 2.5 percent increase from the previous year, Energy Minister Alexander Novak told reporters late on Tuesday.

Novak also suggested that a meeting of a committee of OPEC and non-OPEC members to monitor the implementation of oil production cuts could take place in January.

The committee includes Russia, Oman, Algeria, Venezuela and Kuwait. Novak said he had not yet received proposals from these countries on when to meet.

Reporting by Olesya Astakhova and Katya Golubkova, writing by Denis Pinchuk, editing by Peter Hobson

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