Russia’s EnergyMin Novak: Russia’s Oil output down 307,600 Bpd

According to the Russian Energy Minister Alexander Novak, Russia oil output levels dropped last month by 307,600 barrel per day (bpd), in adherence to the OPEC output cut deal, Oilprice.com reports.

Key Quotes:

“At the end of July 2017, the reduction of oil production stood at 307,600 barrels a day as compared to October 2016.”

“Therefore Russia is meeting is obligations on lowering production.”