Russian oil output slides by 16% in July

Russian oil companies drilled 16% less oil in July than a year earlier, as noted by Interfax, a Russian news agency. 

Russia’s average daily output fell to 39.63 million tons in July – down 9.35 million barrels per day based on a conversion rate of 7.33 barrels per metric ton of oil, according to oilprice.com. 

However, Energy Ministry data, as reported by Reuters, showed a daily average output of 9.37 million barrels in July versus 9.32 million barrels in June.