Economics
Russia Pumps Most Oil Since Soviet Era With Sanctions Yet
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Russian oil production rose to a post-Soviet record last month, showing how pumping of the nation’s biggest source of revenue has so far been unaffected by U.S. and European sanctions or a price collapse for the commodity.
The nation increased output 0.3 percent to 10.667 million barrels a day, according to preliminary data today e-mailed today by CDU-TEK, part of the Energy Ministry. The figure is for crude and condensates, an ultralight oil that yields a greater proportion of high-value fuels. Production averaged 10.58 million barrels a day for 2014, also a post-Soviet record.