By August 2, 2016 Read More →

Russian oil production up slightly in July at 10.85M b/d

Russian oil

Russia’s largest oil producer Rosneft increased its production in July.  Reuters photo by Maxim Shemetov.

Russian oil production up slightly in July at 10.85 mln bpd

MOSCOW, Aug 2 (Reuters) – Russian oil output edged up in July to 10.85 million barrels per day (b/d) thanks to increases at some of the country’s biggest producers, Energy Ministry data showed on Tuesday.
Russia, the world’s leading oil producer and second-biggest oil exporter after Saudi Arabia, pumped an average of 10.84 million b/d in June. In July, oil output reached 45.894 million tonnes.
Oil production by Saudi Arabia came to 10.50 million b/d last month, according to a Reuters survey.
The data showed increases in production at state oil producer Rosneft, Russia’s biggest, and from close peers Surgutneftegas and Gazprom Neft, among others.
Daily gas production reached 1.433 billion cubic metres, up almost 2 percent from June, the data showed. Russia plans to produce 542-544 million tonnes of oil this year (10.85-10.89 million b/d) and roughly the same volumes next year, Energy Minister Alexander Novak told Reuters last month.
(Reporting by Katya Golubkova; Editing by Dale Hudson)
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