October 23, 2018 / 12:10 PM / 4 months ago

Russia has no plan to boost oil output to 12 million bpd by end of 2018

MOSCOW (Reuters) - Russia does not plan to boost oil output to 12 million barrels per day (bpd) by the end of 2018, TASS news agency quoted Energy Minister Alexander Novak as saying on Tuesday.

Russia’s oil output reached a post-Soviet record high of 11.36 million bpd last September, surpassing the previous peak of 11.247 million bpd hit in October 2016.

Reporting by Polina Devitt; Writing by Polina Nikolskaya; Editing by David Goodman

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