Russia’s oil output set a post-Soviet high in March. The production of crude and a light oil, called condensate, climbed 2.1% from a year earlier to 10.912mb/d, according to the Energy Ministry. The amount narrowly beat the previous high of 10.910mb/d in January, Bloomberg reported.
According to the data published by the ministry, Russian oil exports rose 5.1% from a year earlier to 5.59mb/d for March, wrote World Oil.
The figures are raising doubts about Moscow’s commitment to freeze output ahead of a producers’ meeting in Doha in April. Saudi Arabia’s Deputy Crown Prince, Mohammed bin Salman signaled in an interview with the publication that if any country raises output, the kingdom will also boost sales. Apart from Riyadh’s stand, Iran also previously said it plans to boost production after the lifting of sanctions following a deal to curb its nuclear program.