Russia's oil production jumped to 11.193 million barrels per day in early July

Russian oil production has increased to 11.
193 million b/d from 11.
06 million b/d in June from 11.
06 million b/d in June to 11.
193 million b/d from July 1 to 4, a source told Reuters on Thursday, after major producers decided to ease voluntary production cuts
.

Russian Energy Minister Alexander Novak has said Russia will boost oil production by about 200,000 b/d in the second half of the year, after averaging 10.
97 million b/d
from March to May.

Earlier, the Organization of the Petroleum Exporting Countries and other oil producers, led by Russia, decided to relax production cuts and return to full compliance with the Vienna Agreement
, which has been in force since early 2017.

Russia initially agreed to cut its output by 300,000 b/d from 11.
247 million b/d in October 2016, a 30-year high from a 30-year high that began in early 2017, as part of
a global effort to deal with bloated oil inventories and falling oil prices.