Russian oil output edges up to 10.93mn bpd

MOSCOW: Russian oil production rose slightly in October, to 10.93 million barrels per day (bpd) from a year-high of 10.91 million bpd registered in September and August, two industry sources told Reuters on Tuesday.

In tonnes, daily average oil production in Russia stood at 1.491 million in the first 30 days of October, the sources said.

This means that Russia has reduced its oil output by around 317,000 barrels per day from 11.247 million bpd reached in October 2016, the baseline for the global agreement to reduce oil production.

Russia had agreed to curb its oil output by 300,000 bpd from that level.