Russia's Oil, Condensates Output Up 490,000 BpD in June - IEA
MOSCOW (Pakistan Point News / Sputnik - 13th July, 2022) The production of crude oil and condensates in Russia unexpectedly increased by 490,000 barrels per day in June and reached 11.07 million barrels per day, the International Energy Agency (IEA) said in a report on Wednesday.
"During June, Russia once again surprised to the upside, delivering the world's single biggest supply increase as higher domestic consumption far offset lower exports. Total crude oil, condensates and NGLs rose 490 kb/d to reach 11.07 mb/d, down just 330 kb/d from 'pre-invasion levels," the report read, adding that the IEA expects the production to "ease" in July as the EU's embargo on Russian oil "is phased in".