Novak: various factors lead to Russian oil output fluctuations
- Country:
- Russian Federation
Russia has a commitment to keep its monthly average oil production in line with a global agreement on oil output, but its level may fluctuate in the course of a month due to various factors, Energy Minister Alexander Novak said on Friday.
Russian oil production fell close to a three-year low in early July but recovered to around 11.05 million barrels per day (bpd) between July 1 and July 21.
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