Russian Oil Output Edges up in October

Oil

Russian oil production rose slightly in October to 10.93M b/d, marginally higher from the former year-high of 10.91M b/d registered in September, Reuters reports. In tonnes, daily average production in Russia stood at 1.491M in the first 30 days of October.

The country had agreed to curb its oil output by 300,000 b/d from the 11.247M b/d reached in October 2016, which means that at current levels of production, Russia honours its pledge by cutting about 17,000 b/d more than what was promised.