Russian oil exports rose by 3.3% in 2019 comapred to 2018, Moscow’s Central Dispatching Department of Fuel Energy Complex said in a statement on Thursday. Exports to the Commonwealth of Independent States (CIS) declined 2.4% to 17.6 million tonnes while exports to non-CIS countries increased by 3.7% in 2019 compared to the previous year. Russia exported 206.1 million tonnes of oil last year despite being a part of the OPEC+ output cut deal. In December, OPEC+ agreed to extend and widen its output cuts by an additional 500,000 barrels per day, bringing the total cuts to 1.7 million barrels per day. Russia remained the second largest gas, and the third largest oil producer, accounting for 17% and 12% of the global output, respectively. Russian oil exports grew by 2% (to 9.2 Mb/d) and accounted for 13% of the global total; gas exports grew by 5.4% (to 248 bcm) accounting for 26% of the global total. Nick Note: OPEC+ production cuts my ass. Its the height of winter oil production… Of course inventories will drop……. for now. Wait and see their is oil up the ass out their……