Russia may reverse 300,000 b/d output cut this month: Novak

摘要

Moscow-Russia may be back to producing at its October 2016 level this month, energy minister Alexander Novak said Wednesday, suggesting a reversal of the 300,000 b/d cut his country pledged under a deal with OPEC that is now being unwound. Russian oil output in September will be slightly more than it was in August, Novak said, declining to give an official figure, but adding the country may already be back to its full output, as OPEC and its partners aim to raise production by a combined 1 million b/d.