Rise in Russian Exports To New 10-Year High Looks Set to Irk Opec

摘要

Russia hiked its oil and condensate output to a 10-year high of 9.966 million barrels per day (42.149 million metric tons) in August. Overall exports also increased, despite a drop in seaborne exports last month.The news is likely to irk Opec, which has cut its own output by over 4 million b/d this year in a bid to shore up prices. Moscow had pledged at the end of 2008 to support the producer group by reducing supplies by 300,000 b/d this year.