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Russian Crude Output Continued to Exceed Pledged Cuts


Russian crude oil output remained almost stable in October with daily production at 1.318mn tons, according to people familiar with Energy Ministry data, continuing to exceed pledged output cuts.

  • October figures are equivalent to 9.66mbpd, up by around 27kbpd on the month.
  • That means Russia’s crude production was only 290kbpd lower than in February, the baseline for Russia’s pledged 500kbpd output cut.

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