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Russia’s Novak: Average crude oil output seen at 9.8 mln bpd in October

Russian Deputy Prime Minister Alexander Novak said on Friday, “average crude oil output is seen at 9.8 million barrels per day (bpd) in October.”

Key quotes

“Gas production in Russia running at maximum capacity.”

“Spot gas sales could resume once filling of Russian gas storages is completed.”

Market reaction

WTI is consolidating around the $81.50 mark, up 0.85% on the day, having reached fresh multi-year highs at $81.75 earlier on.

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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