Russia's oil output rises in July on firm exports, refinery run recovery, sources say

Russia lifted crude and condensate output in July by ~100,000 bpd from June to above 9 million bpd, driven by strong oil exports and higher refinery throughput, according to Reuters sources. While the move is modest, incremental supply growth could add slight downward pressure to crude balances in the near term.

Analysis

Russia lifted crude and condensate output in July by ~100,000 bpd from June to above 9 million bpd, driven by strong oil exports and higher refinery throughput, according to Reuters sources. While the move is modest, incremental supply growth could add slight downward pressure to crude balances in the near term.