CNBC, citing the IEA: Russia's October crude oil production increased by 210,000 barrels per day month-on-month.
According to CNBC citing the International Energy Agency (IEA) monthly report, Russia's crude oil production rose to 8.73 million barrels per day in October, an increase of 210,000 barrels per day month-on-month. The report stated that global oil supply reached 105.4 million barrels per day in October, up 2.3 million barrels per day from September; observable global inventories increased by 52 million barrels during the month, marking the first rise since June. The IEA noted that the recovery of Gulf exports pushed global oil supply to exceed demand for the first time since the outbreak of the Iran war. However, the report also pointed out that ongoing attacks on Russia's energy infrastructure continue to restrict its diesel supply to international markets, meaning the increase in crude production does not equate to a simultaneous easing of the diesel shortage.
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