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Russian oil industry ready to discuss oil output cuts

Russia’s oil industry argued for years that it cannot cut output to support falling global prices for purely technical reasons; in reality it can – as long as it has the political will. The days that oligarchs decided production levels ...

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Russian Oil Output Falls in July, Still Beats Saudi Arabia

Russian oil output fell to 10.65 million barrels per day (bpd) in July, down from 10.71 million bpd in June, falling from post-Soviet highs maintained since March, Energy Ministry data showed on Sunday. The fall was mostly due to lower condensate production at Gazprom, included in the oil figures, the data ...

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Russian Oil Production Remains at Post-Soviet High in April

Russian oil and gas condensate production, among the world’s largest, remained at a post-Soviet record level of 10.71 million barrels per day in April, underpinned by a recent recovery in oil prices, Energy Ministry data has shown. Global oil prices jumped 21 percent in April to more than $66 ...

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