Russia Could Boost Oil Production To 11.4 Million Bpd

Russia is currently pumping 9.9 million barrels per day (bpd) of crude oil, but has the capacity to increase production to up to 11.4 million bpd, Russian Deputy Prime Minister Alexander Novak said on Thursday. Nevertheless, the output level should be guided by the market, Novak added. Russia’s oil production in October will be 9.9 million bpd, as Moscow is aligning its output with the OPEC+ agreement, Novak said at the Russian Energy Week forum today. The country has previously reached maximum production of 11.3 million bpd-11.4 million…