Russia’s Oil Production Down In October And Set To Fall Further

Russia’s oil production dropped slightly in October compared to September, but the decline could accelerate from November as the EU prepares to introduce an embargo on imports of Russian crude from December 5, Russian business daily Kommersant reported on Monday, quoting sources familiar with the situation. In October, Russian oil production, including condensate, was 1.47 million tons of oil per day, or 10.78 million barrels per day (bpd), per Reuters estimates. The October production was slightly down from 10.8 million bpd reported for…