Russian oil output in November hovered near a post-Soviet record set the previous month, shrugging off a crude-price slump before OPEC gathers for its annual meeting in Vienna. Production of crude and gas condensate averaged 10.779 million barrels a day during the month, according to data from the Energy Ministry’s CDU-TEK unit. That’s an increase of 1.3 percent from a year earlier and slightly beneath the 10.782 million barrels a day record in October. The Organization of Petroleum Exporting Countries meets on Dec. 4 to discuss its output limit a year after it chose to defend market share rather than cut production amid a supply glut. That decision compounded the price slump as Saudi Arabia pursued a policy that squeezed U.S. shale producers and other higher-cost output. Russia, which isn’t a member of OPEC, continues to build output as a weakened ruble reduces costs for drilling and the nation’s […]