Russia’s October Oil Production Millions Of Bpd Below Quota: Novak

Russia’s oil production, excluding condensate, for October came in well below its production quota for the month, at just 9.9 million bpd, Russian Deputy Prime Minister Alexander Novak said on Tuesday, Interfax reported. Russia’s October production is 2 million bpd below its quota of 11 million bpd allowed under its quota assigned under the OPEC+ agreement, but mostly in line with Novak’s estimates made last month. For November, Russia’s oil production quota will drop from 11 million bpd to 10.5 million bpd. Russia’s…

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