Russia’s Oil, Condensate Output Rises Amid Higher OPEC+ Quotas
- Combined production was 10.46 million b/d in July: CDU-TEK
- Crude-only output may have exceeded quota again: calculations
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Russia increased oil production in July for the first time in three months, after more generous quotas were extended to the entire OPEC+ alliance.
Producers pumped 44.24 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s about 10.46 million barrels a day, or 0.3% higher than in June, Bloomberg calculations show, based on a 7.33 barrels-per-ton conversion rate.