IEA: Russia fulfills OPEC oil output reduction deal by 92% in July

MOSCOW, Aug 11 (PRIME) -- Russia’s production of liquid hydrocarbons has decreased by 276,000 barrels daily since October 2016 to 11.321 million barrels daily in July, fulfilling the terms of the OPEC plus nonmember agreement by 92%, the International Energy Agency (IEA) said in a report on Friday.

In June, Russia fulfilled the terms of the deal by 93% and the level of compliance has been 70% on average since the start of 2017.

Oil and gas condensate production fell by 279,000 barrels daily to 10.95 million barrels daily in July.

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