Russia Halts Oil-Output Boost After July Jump Amid Record Gains - Bloomberg:
Russia took a breather last month, holding crude production near a record high.
The nation pumped an average of 11.21 million barrels per day in August, according to data emailed Sunday by the Russian Energy Ministry’s CDU-TEK unit. Volumes were little changed from July, when the country’s output soared to just shy of its post-Soviet record reached in 2016.
Russia has been the main beneficiary from its agreement with the Organization of Petroleum Exporting Countries made two months ago to ease production curbs. The country added nearly 250,000 barrels a day of output in June and July, while its biggest partner in the pact -- Saudi Arabia -- has kept supply below the level it was said to have indicated in June amid concerns over strength of the global demand.
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