MOSCOW: Russia's oil output stood at 10.95 million barrels per day (bpd) in July, unchanged for a third month and in line with its pledge to curb production in an effort to support the price of crude, Energy Ministry data showed on Wednesday.
The Organization of the Petroleum Exporting Countries and other producers led by Russia are cutting oil output until the end of March 2018. A committee of OPEC and non-OPEC nations recommended extending the curbs further if needed.
On Tuesday, Russian Energy Minister Alexander Novak said the country had cut its oil output by 307,600 bpd in July compared to October 2016, making good on Moscow's obligations under the supply pact.
Oil output last month reached 46.309 million tonnes, versus 44.801 million tonnes in June, according to the monthly data released by the ministry on Wednesday. Daily output was the same, however, because July is a day longer than June.
Russian oil pipeline exports in July stood at 4.099 million bpd, down from 4.131 million bpd in June.
Natural gas production in Russia was at 50.8 billion cubic metres (bcm) last month, or 1.64 bcm a day, versus 51.28 bcm in June.
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