(Bloomberg) -- Crude output in Russia, the world’s largest oil producer, grew 1.8 percent in October from a year earlier after OAO Rosneft began production at a field in northern Siberia.
Output was unchanged from September at 42.47 million metric tons, or 10.04 million barrels a day, a post-Soviet high, the Energy Ministry’s CDU TEK unit said in an e-mailed statement today.
Crude exports rose 0.5 percent from a year earlier to 5.4 million barrels a day. Exports fell 2.1 percent from September after Russian companies began producing more oil products, according to Alexei Kokin, an oil analyst at IFC Metropol in Moscow.
“Product margins are back now that crude is trading at $70 a barrel plus,” Kokin said, noting an increase in oil products production at OAO Lukoil and TNK-BP in the third quarter versus the second.
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(Bloomberg) -- Crude output in Russia, the world’s largest oil producer, grew 1.8 percent in October from a year earlier after OAO Rosneft began production at a field in northern Siberia.
