Russia’s oil production in August was virtually flat compared to July as Moscow kept output at near post-Soviet record, after having reversed most of its production cuts under the OPEC+ deal the previous month. Russia’s oil production in August stood at 11.21 million bpd , according to data by its energy ministry emailed to Bloomberg over the weekend. After the OPEC meeting in June decided to ease compliance rates, Russia opened the spigots in July and pumped at its highest level since the OPEC/non-OPEC agreement came into force in January 2017. At 11.215 million bpd , Russia’s oil production in July was very close to the post-Soviet record-high of October 2016, the month used as a baseline for the production cuts. Russia’s oil production in July had surged by 148,000 bpd from June, according to government data. Before the decision to reverse some of the cuts—or as OPEC and […]