MOSCOW: Russia extracted oil at a record pace of 10.38 million barrels per day in August, a level unseen since the collapse of the Soviet Union, as companies took advantage of high oil prices, Energy Ministry data showed on Sunday.
Russian oil output, the world's largest, edged up 0.4 percent in August from 10.34 million bpd in July. In tonnes, the ministry said crude production in Russia stood at 43.89 million last month.
The previous record level of 10.36 million bpd was reached in each of the first three months of the year. Russia aims to maintain crude production, a key source of budget revenues, of no less than 10 million bpd within the next 10 years.
Russia remained the world's top crude producer, ahead of quota-bound Saudi Arabia, which produced 9.95 million bpd last month.
In August, oil prices jumped 9.2 percent, the biggest monthly percentage increase since prices rose by 10.5 percent in February, and added to a 7 percent rally in July as a result of tension over Iran's nuclear programme, and hopes of more monetary easing that could spur economic growth and support oil demand.
Oil output at Russia's top crude producer Rosneft exceeded a monthly level of 10 million tonnes for the first time thanks to a 12 percent increase at its new Vankor oilfield in East Siberia.
Russia is hunting for new sources of oil in East Siberia and the Arctic as production in West Siberia falls due to highly depleted deposits.
Daily gas production in Russia halted its slide, staying unchanged month-on-month, at 1.45 billion cubic metres (bcm) in August.
Production at world's top natural gas producer Gazprom increased 0.4 percent to 1.03 bcm.
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