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Russia pumps record amount of oil in September

Xinhua, October 3, 2016 Adjust font size:

Russia's daily oil production reached a record high of 11.1 million barrels in September, a monthly increase of 4 percent and the highest since 1991, the country's Ministry of Energy said Monday.

In late September, members of the Organization of Petroleum Exporting Countries (OPEC) hammered out a preliminary agreement to curb oil production, which will limit OPEC's output to between 32.5 million and 33 million barrels per day.

"Russia will carefully consider those proposals which will be eventually drawn up," Russian Energy Minister Alexander Novak said after the agreement was announced, but "our position is keeping the volume of production at the level that has been reached."

The preliminary agreement was reached after officials met on the sidelines of the International Energy Forum held in Algiers on Sept. 26-28, which Russia had also attended.

In April, the world's major oil producers failed to strike a production freeze deal in Doha, Qatar. Endi