According to a Reuters report on Vladivostok, Russia, on September 11, Russian Energy Minister Alexander Novak said on Tuesday that Russian companies have the potential to raise oil production from current levels.
Russia’s oil production in August was 11.21 million barrels per day, almost unchanged from July, close to the high point after the collapse of the Soviet Union.
Russia is a member of the OPEC+ group, which works to stabilize global oil prices.
US Energy Secretary Rick Perry met with Saudi Energy Minister Khalid al-Falih in Washington on Monday, and the Trump administration is encouraging large oil producers to maintain high production.
Perry will meet Novak in Moscow on Thursday.
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