Russia’s oil production falls to 10.41 million bpd

Russia’s oil production fell to 10.41 million barrels per day (bpd) during the period from Aug. 1 to 23, from 10.46 million bpd in July, they said. Sources told Reuters, despite plans to raise supplies.

Sources claimed that production declined mainly due to a fire at a northern Gazprom processing plant.

Russia previously said it would increase oil production by about 100,000 bpd from August 1, in line with an agreement with the OPEC + group of major oil producers to phase out restrictions on pumping.

The Russian Energy Ministry did not immediately respond to a request for comment.