Estimate rises 110,000 barrels a day to almost 500,000 a day Russian output is likely to lead the increase, agency says The International Energy Agency increased its estimate of oil production from countries outside OPEC next year, led by booming Russian output. Supply growth from nations outside the Organization of Petroleum Exporting Countries will be “just shy” of 500,000 barrels a day, an increase of 110,000 barrels a day from the agency’s forecast last month, it said Thursday. Russian production is likely to grow by 190,000 barrels a day, building on a 230,000-barrel increase in 2016. Swelling output from non-OPEC countries including Russia, Brazil and Kazakhstan present a challenge for the 14-member exporters’ group, which meets at the end of November to hammer out the details of a production cut to buoy prices. While Russia has said it will consider joining an OPEC agreement, its own output has climbed […]