NEWSWATCH: “Ahead of promised cut, Russia’s oil output hits record high” – Reuters

Russia plans to use its November oil production … its highest in almost 30 years, as its baseline when it cuts output under [a] deal with OPEC …. Russia … promised to gradually cut output by up to 300,000 … bpd … aimed at supporting oil prices. Its daily oil production rose to an average of 11.21 million bpd in November …. 500,000 bpd higher than in August …. * * * Lukoil and Surgutneftegas raised output in November while production slipped at fields operated by Rosneft, GazpromNeft and their joint venture Slavneft …. Rosneft, Gazprom Neft and Lukoil have all launched new fields this year and increased drilling, despite low oil prices. …. Azerbaijan, Kazakhstan, Mexico, Oman, Bahrain and other non-OPEC producers could join the deal and … jointly match Russia’s cut of 300,000 bpd.

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