Kuwait will raise oil output by 85,000 barrels per day (bpd)starting on Sunday, part of an agreement between OPEC and non-OPEC producers.
This was the first increase in Russian output since December and the highest level since output of 11 million bpd in April 2017.
Fears of dire energy shortages that gripped the country in the 1970s have been replaced by a presidential policy of global “energy dominance.”
Oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook.
There are no new agreements on reduction of oil output, Kremlin spokesman Dmitry Peskov said on Monday