Russian energy minister Alexander Novak expects his country’s crude oil output in 2019 to be around 555-556 million mt (11.145-11.165 million b/d) but said this figure could be revised downwards due to OPEC+ agreements to cut production, the Prime news agency reported him as saying Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “A lot can change over the course of a year, depending on decisions on coordinated joint action… Next year the forecast is 555-556 million mt, but that may be adjusted downwards by 3-4 million mt… to I think 552 million mt,” Novak said. A figure of 552 million mt would be equivalent to around 11.085 million b/d according to calculations by S&P Global Platts, based on a conversion rate of 7.33 barrels to a metric ton. Earlier this month OPEC and non-OPEC countries agreed to cut crude output for […]