Russian oil production edged down to 11.00 million barrels per day (bpd) in April from 11.05 million bpd in March, just short of full compliance with the targets of a global deal to cut oil output, Energy Ministry data showed on Tuesday. The Organization of the Petroleum Producing Countries with Russia and other leading oil producers agreed to cut oil production by almost 1.8 million bpd in the first six months of this year to tackle bloated inventories and prop up weak prices. Of that amount, Russia undertook to reduce its output by 300,000 bpd by the end of April to a target of 10.947 million bpd from a 30-year high of 11.247 million bpd in October. In April, its compliance with its target was 95.2 percent. In tonnes, oil output in April reached 45.002 million versus 46.739 million in March. Investors are now focusing on whether the OPEC […]