Russia June oil output hits record-high

MOSCOW, July 2 (Reuters) - Russian oil output reached a record-high level in June and stayed above 10 million barrels per day for the tenth consecutive month, allowing Moscow to retain the world’s top position ahead of Saudi Arabia.

An industry source told Reuters on Friday that June oil output rose to 10.13 million barrels per day (bpd), up from 10.08 million bpd in May and the previous record-high of 10.12 million bpd in March.

Russia’s natural gas production continued its decline amid falling demand in Europe and at home due to high summer temperatures.

Russia’s overall gas output fell to 1.49 billion cubic metres per day in June from 1.65 bcm per day in May.

Reporting by Gleb Gorodyankin; writing by Vladimir Soldatkin