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January, 24, 2017

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Oil output in Russia hits record post-Soviet high

MOSCOW--Russian leaders hailed their powerful energy industry on Sunday as the country posted a post-Soviet record high rate of oil production that should boost coffers in uncertain global economic times.

The energy ministry's data reporting unit said Russia produced 10.38 million barrels per day in August — a fractional increase on July that put it above any mark seen in the past two decades.

Putin's prime minister and Kremlin predecessor Dmitry Medvedev hailed Russia assuming its "rightful place" as the world's largest combined exporter of oil and natural gas.

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