OPEC raises Russia's oil output forecast

OPEC raises Russia's oil output forecast

OPEC has increased its outlook for Russia's oil output this year by 0.03 million barrels per day to 11.07 million barrels, according to OPEC's June oil market report.

"Given the output level over the past few months, data for the first quarter of 2018 were revised upwards by 0.18 million barrels per day from the forecasted level of 10.98 million barrels per day to 11.16 million barrels per day," RIA Novosti cited the report as saying.

OPEC's estimate of the volume of oil production in Russia last year remains at the level of 11.17 million barrels per day.

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