Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Russia’s Oil Output Rises to Near Most Since Soviet Era

Russia, the world’s biggest oil producer, increased crude and condensate production by 1 percent in July from a year earlier to 10.43 million barrels a day, near a post-Soviet record.

Daily output fell 0.7 percent from June, when it set the record, according to preliminary data sent by e-mail today from the Energy Ministry’s CDU-TEK unit in Moscow. Soviet-era production in Russia peaked at 11.48 million barrels in 1987.

President Vladimir Putin is promoting tax relief for offshore and low-permeability resources to keep production at more than 10 million barrels a day as Soviet-era Siberian deposits decline. He signed off on tax breaks last month for less accessible resources that could be applied to so-called tight oil deposits starting in September. The oil and natural gas industry contribute half of the nation’s revenue.

Crude and condensate exports fell 1.7 percent to 4.97 million barrels a day in July from the previous month. Shipments from Primorsk, Russia’s largest oil port, will be less than 1 million barrels a day for the third month in August and the lowest since at least 2008.

Natural gas output rose 3.9 percent last month from a year earlier to 1.5 billion cubic meters a day, the data show. Gazprom, Russia’s gas export monopoly, boosted production 1 percent to 1.03 billion cubic meters. Shipments to Europe and Turkey rose 29 percent to 14 billion, Gazprom said yesterday.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.