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Russian Oil Output Rises to Record as OPEC Cuts Rolled Back

  • Production was 11.356 million barrels a day in September
  • Russia could add more if market needs it, government has said
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Oil Hovers at Four-Year High
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Russia’s oil production rose to a post-Soviet high last month as the country completely rolled back the output cuts it had agreed on with OPEC, then pumped some more.

The country produced a record 11.356 million barrels of oil and condensate a day in September, according to data released Tuesday by the Energy Ministry’s CDU-TEK statistical unit. That’s an increase of almost 150,000 barrels a day from August and follows Russia’s June agreement with OPEC to boost supplies amid climbing prices.