Russia's Novak sees Aug oil production at same level as in July

Russian oil output rose by 150,000 barrels per day (bpd) in July from a month earlier, surpassing the amount Moscow had promised to addREUTERS  |  August 28, 2018, 07:36 IST
Russia's Novak sees Aug oil production at same level as in July KEMEROVO, Russia: Russian oil production in August is expected to remain at the same level as it was in July, Russian Energy Minister Alexander Novak said on Monday.

Russian oil output rose by 150,000 barrels per day (bpd) in July from a month earlier, surpassing the amount Moscow had promised to add following a meeting of global oil producers in Vienna in June, energy ministry data showed on Aug. 2.

Under an initial deal between OPEC and non-OPEC producers, Moscow had agreed to cut 300,000 bpd from the production level of 11.247 million bpd Russia reached in October 2016. Energy ministry statistics for August is due to be released on Sept. 2.