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Russian crude production to total 9.8 mln barrels per day in October, Novak specifies

Russia’s crude oil production in October considering OPEC+ agreements will total 9.8 mln barrels per day, Deputy Prime Minister Alexander Novak told reporters on the sidelines of the Russian Energy Week on Friday.

“Yes, correct,” he said when asked a respective question. Previously Russia’s October oil output was projected at 9.9 mln barrels per day.

Russia participates in the OPEC+ agreement, which regulates crude production by member-states in accordance with the market situation. OPEC+ nations have been increasing output that was substantially slashed a year ago, since this May. In particular, the plan is to boost production by 400,000 barrels per day each month starting August. According to OPEC, Russia should produce 9.913 mln barrels per day in November 2021.

Novak said earlier that Russia might produce more than 522 mln tonnes of oil and gas condensate in 2021.
Source: TASS

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