Russia could boost oil output up to 250,000 b/d in July

摘要

Moscow-Russia can restore its crude output by as much as 250,000 b/d in July as part of the recent decision by the OPEC-led coalition to increase production, energy minister Alexander Novak said Friday, indicating that the country is returning barrels to the market quicker than had been expected. "We [expect] that some 200,000- 250,000 b/d, out of the 300,000 b/d cut under the production cut deal, will be restored [this month]," Novak said on the sidelines of the BRICS summit in Johannesburg, according to a statement by the ministry's press office.