Russian oil output slides by 16% in July

Omkar Godbole FXStreet Contributor

Russian oil companies drilled 16% less oil in July than a year earlier, as noted by Interfax, a Russian news agency.

Russia’s average daily output fell to 39.63 million tons in July – down 9.35 million barrels per day based on a conversion rate of 7.33 barrels per metric ton of oil, according to oilprice.com.

However, Energy Ministry data, as reported by Reuters, showed a daily average output of 9.37 million barrels in July versus 9.32 million barrels in June.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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