Russian Crude Oil Daily Output Surged to 11.193 Million Barrels

According to sources, Russian crude oil daily output had risen to 11.193 million barrels on July 1-4 from 11.06 million barrels in June. Moreover, sources say that Russia will raise the daily crude oil output by 200,000 barrels in H2, 2018. The increase has followed a decision by the organization of the petroleum exporting countries and other oil producers led by Russia to ease production cuts and get back to full compliance with a Vienna agreement, which has been in force since early 2017.