Moscow—Russia produced 44.108 million mt (10.387 million b/d) of crude in July, the lowest average daily crude output volume since October 2012, the latest figures released by the country’s energy ministry show. The fall comes just a month after Russia set a new-post Soviet output record of 10.48 million b/d in June. The development could be a result of slower production drilling growth, Valery Nesterov, analyst with Sberbank CIB, said.
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