MOSCOW: Russia’s crude oil production was flat at 10.91 MMbpd (million barrels per day) in September 2017—compared to the previous month. The production is at a 13-month low due to major oil producers’ production cut deal.
The production also fell due maintenance work in ExxonMobil’s (XOM) Sakhalin-1 project in September 2017. Any fall in Russia’s crude oil production is bullish for crude oil (BNO) (USO) prices.
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