Russia is cutting oil output by as much as 10 percent for several days amid disruptions due to contamination of crude in a major pipeline to Europe and at a key port for exports, industry sources said on Friday. Russian oil producers received a request from state-run pipeline monopoly Transneft to reduce oil output by 900,000 tonnes, or about 6.6 million barrels, until May 7, two industry sources told Reuters. That represents more than 1 million barrels per day (bpd) over the next five days or about 10 percent of output from the world’s second largest crude exporter, according to Reuters calculations. Transneft declined to comment. “This just shows this disruption is extremely serious. Russia has had its major export pipeline and port either shut or not functioning properly in the last 10 days, so output cuts are unavoidable,” said a Russian oil buyer with an […]