Russia’s oil production has increased during June 1-25 to an average of 11.15 million barrels per day (b/d), up from around 11.04 million b/d in June 1-10, Reuters reported.

Russian oil output in May dropped to 11.11 million b/d, which is the lowest level reached since June 2018, down from 11.23 million b/d a month before.

It is worth mentioning that Russia’s Lukoil believes that the production cut agreement between the Organization of the Petroleum Exporting Countries (OPEC) and its allies should become permanent, according to Vagit Alekperov, Lukoil CEO.