MOSCOW: Russian oil and gas condensate output rose to 10.84 million barrels per day (bpd) last month from 10.72 million bpd in September, according to Reuters calculations based on an Interfax report citing energy ministry data on Tuesday.
Total oil and condensate production was 45.86 million tonnes last month, Interfax reported, versus 43.86 million tonnes in September, which is a day shorter. Last month’s level was the highest since the 11.34 million bpd pumped in April 2020.
The OPEC+ group of leading oil producers, which includes Russia, will hold a meeting to decide on further production policy on Thursday.
Under the current deal, the group is raising its cumulative output by 400,000 barrels per day each month - something members Kuwait and Iraq have said they would support despite US calls for extra supply to cool rising prices.
Brent crude prices were trading at near $85 a barrel on Monday, despite China announcing a release of fuel reserves to increase market supply and support price stability in some regions.
Russia’s gas production, which is dominated by the state gas pipeline monopoly Gazprom, was at 65.81 billion cubic metres last month, up from 61.05 bcm in September, Interfax reported.
The data does not disclose production levels by Gazprom, at the spotlight as European spot gas prices are surging. The company said on Monday its gas production in October was at 44.5 bcm, the highest monthly figure since 2013.
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