Report: Russian firms can raise output by 400,000 bpd in August

MOSCOW, Jul 16 (PRIME) -- Russian companies are able to raise oil output by 400,000 barrels per day very fast in August after the OPEC plus deal eases, Energy Minister Alexander Novak told channel Rossiya 24 late on Wednesday.

"Russia’s total is about 400,000 barrels per day, this is a good decent figure, about 20% of the level that we cut," Novak said.

He said that the production increase will be proportionate to the quotas of the previous periods.

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