In September 2015 oil extraction in Russia totaled 10.74 million barrels a day, which is a new record since the Soviet times, writes The Wall Street Journal referring to the data of the Russian Energy Ministry. The production growth constituted 0.4% as compared to August.
The record extraction of 10.71 million barrels a day was reported in March. The previous record of 10.67 million barrels a day was set up in December 2014.
This year’s record of daily extraction will be 10.6 million barrels against 10.58 million in 2014, which has also become a maximum index for Russia since collapse of the Soviet Union.
The record volume of Russian oil extraction strengthens excess of supply at the world market, reported WSJ. WSJ reported that such a policy proves that Russia is not going to unite with OPEC to reduce production and increase prices for energy carriers. OPEC made it clear that it is going to take this measure, only if other big oil exporters, including Russia, will join it.
In September Russian Vice Premier Arkadii Dvorkovich told CNBC TV channel that Russia is not going to deliberately reduce oil production. He added that it could be reduced, if the prices stay low for a long time, but it still will not be reduced significantly.
