Russia May Raise 2016 Oil Output

Russia is considering raising its oil production this year, and a level of 540 million tonnes of crude is “quite realistic”, Russian Deputy Energy Minister Kirill Molodtsov told reporters on Tuesday.

Russia produced 534 million tonnes of oil last year.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.