Novak, the Deputy Prime Minister of Russia, says that Russia has gradually increased its oil production.

The Interfax news agency reported that Alexander Novak, Deputy Premier, said on Wednesday that Russia had been steadily increasing its oil production, and was close to meeting last month the output quota set by the OPEC+ oil producing group.

The Russian energy sector has suffered a serious setback in the last two months as a result of dozens of drone attacks by Ukraine on its oil and natural gas infrastructure. These attacks primarily targeted oil refineries.

Due to the attacks and disruptions to logistics, there are shortages in some regions of certain popular types of fuel. The government has extended a ban on gasoline exports, as well as declared a partial export ban for diesel.

Novak said that it was not necessary to restrict diesel exports further and that domestic oil refineries have increased fuel production.

"Overall, supply and demand are in balance." As usual, we are addressing today any logistical problems that may arise. Novak, when asked about domestic fuel supply, was quoted saying that there were no major issues.

The Organization of the Petroleum Exporting Countries (OPEC+) and its allies led by Russia have been formed.

Unwinding

Reduced oil production in order to gain market share against rivals, such as U.S. Shale producers.

According to OPEC Russian

Oil production

In August, the number of barrels produced per day increased by 50,000 from July to 9.173 millions.

In September, the Russian OPEC+ production quota was 9.415 millions bpd. There are no data on production for the last month. (Reporting and writing by Ksenia orlova, Vladimir Soldatkin editing by Andrew Osborn).

(source: Reuters)