Russian Oil Output Near Post-Soviet Record as It Prepares to Cut
- Production averaged 11.2 million barrels a day in November
- Russia pledged to cut as much as 300,000 barrels a day
Markets Reposition Post OPEC’s Production Cut Deal
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Russia, the world’s largest energy exporter, held November output near a post-Soviet record , which is likely to remain a high-water mark in the near term after a pledge to cut production.
Russian crude and condensate production averaged 11.21 million barrels a day in November, compared with a record 11.23 million barrels a day in October, according to the Energy Ministry’s CDU-TEK statistics unit.