Russian oil production rose to a post-Soviet record high of 11.16 million barrels per day (bpd) last year on an annual average basis, data from its energy ministry showed on Wednesday. The total surpassed the previous annual record average of 10.98 million bpd set in 2017. Russian oil output reached 555.838 million tonnes last year, against 547 million tonnes in 2017. Reuters uses a barrels-to-tonnes ratio of 7.33 to 1. All the Russian majors increased their oil production last month in yearly terms. Rosneft, the world’s largest listed oil producer by output, raised its oil production by 4.6 percent year-on-year in December, while Lukoil and Surgutneftegaz both increased their output by 2.5 percent. Tatneft’s oil production surged by 9.3 […]