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Data Shows Russia Pumped 10.78 Million B/D From July 1-17

RUSSIA
  • Russian oil production has continued to recover this month as higher domestic demand offset a slight drop in exports to key markets.
  • The nation’s producers pumped 10.78 million barrels a day on average from July 1 to 17, according to data from the Energy Ministry’s CDU-TEK unit that was seen by Bloomberg.
    • That’s 0.6% above the June level, according to calculations based on the data, indicating that the pace of the country’s output recovery has slowed. (BBG)
  • Russia’s production growth came as the country’s refineries increased runs after adapting to Western sanctions. Supplies to domestic downstream facilities so far in July reached 5.75 million barrels a day, around 6% above the average for June, the data show.
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