Russian Oil Output Up 1.4% to Post-Soviet Record as Exports Drop
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Russian production of crude oil and natural-gas condensate topped June’s post-Soviet record last month as companies like OAO Gazprom, spurred on by President Vladimir Putin, invested in increasing output.
Production rose 1.4 percent to 10.52 million barrels a day, from a year before, according to preliminary data from the Energy Ministry’s CDU-TEK statistics unit. Exports fell for a fourth month, by 8.1 percent to 4.9 million barrels, it said.