OPEC raises outlook for Russia’s 2016 oil output to 11.05 mln bpd

MOSCOW, Nov 11 (PRIME) -- OPEC has raised its forecast for Russia’s daily oil output in 2016 by 12,000 barrels to 11.05 million barrels, up 200,000 barrels on the year, it said in a report Friday.

In 2017, the country’s daily oil output is projected to grow to 11.1 million barrels.

In October, Russia’s oil output stood at 11.32 million barrels a day, up 0.45 million barrels compared with last year, OPEC said attributing the growth to the launch of new oil fields.

The U.S. daily oil output is projected to fall to 13.6 million barrels per day in 2016 and 13.5 million barrels per day in 2017, OPEC said.

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