Russian Oil Output Down 307,600 Bpd

Russian oil output is down 307,600 barrels per day, compared
to October levels, according to the country’s oil minister. “At the
end of July 2017, the reduction of oil production stood at 307,600
barrels a day as compared to October 2016,” Minister Alexander
Novak told reporters. “Therefore Russia is meeting is obligations
on lowering production.” Novak was referring to the promise Moscow
made to OPEC and 10 other NOPEC nations in November to cut
production by 300,000 bpd in an effort to rebalance oil supply wth
demand.…

Russian oil output is down 307,600 barrels per day, compared
to October levels, according to the country’s oil minister. “At the
end of July 2017, the reduction of oil production stood at 307,600
barrels a day as compared to October 2016,” Minister Alexander
Novak told reporters. “Therefore Russia is meeting is obligations
on lowering production.” Novak was referring to the promise Moscow
made to OPEC and 10 other NOPEC nations in November to cut
production by 300,000 bpd in an effort to rebalance oil supply wth
demand.…