Russian oil output jumped by almost 4% in September from the previous month to 11.11mn barrels per day (mbp), a new post-Soviet record-high, as companies ramped up drilling amid improved oil prices, Energy Ministry data showed yesterday.
The oil output rose amid the talks between the leading global producers, including Russia, to curb production in order to support oil prices, depressed by oversupply.
Russian Energy Minister Alexander Novak said on Friday that Russia will find mechanisms and instruments needed to freeze oil production should the country reach an agreement with the Organization of the Petroleum Exporting Countries on limiting output.
His comments were …read more
Source: Gulf times
