Russia’s oil production hit 10.9 million barrels per day (mbd) in January 2016, the highest level since the collapse of the Soviet Union. But that could mark the peak for Russia’s oil production as it enters an extended period of gradual decline. Rosneft, which at 3.8 mbd accounts for more than one-third of Russia’s total production, stated that its output would fall in 2016. Left unsaid, however, was whether that will come from natural decline or a more intentional effort. On March 29, Russia’s energy minister Sergei Donskoi said Russian oil companies are adjusting their 2016 production plans, suggesting that they are doing so because of the upcoming April 17 meeting in Doha with several key OPEC members regarding their tentative production “freeze” agreement. “Rosneft, as it told (us), is planning to lower (output),” Donskoi said, according to Reuters . Rosneft, or Russian officials, may be trying to take […]