Russian oil companies have renewed their export plans after the late-June decision between Opec and non- Opec producers to increase total out- put among participants by 1 million barrels per day collectively. However, full-year exports from Russia, at least those via the network of oil pipeline monopoly Transneft, are still expected to be less than a year ago because of production re- strictions at fields directly connected to the network in the first half of the year and robust domestic demand, as calculated by Nefte Compass (NC Aug.2’18).
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