Russian Oil Production Jumps To Record High Amid Rising Prices And Fears Of Shortage Due To Upcoming Iran Sanctions -- Puppet Masters -
Russia is ramping up crude oil output after OPEC and other countries agreed to ease production curbs. In September, Russia produced a record amount of oil in its modern history. The country's production rose to 11.36 million barrels per day (bpd) in September and exceeded the record high 11.247 million bpd hit in October 2016, Russian Energy Ministry said. The previous record served as Russia's baseline for a deal with OPEC to reduce production. But in June, OPEC+ countries at a meeting in Vienna decided to increase production from July by about 1 million bpd.