Russia's oil output rises

Russia's production of oil and gas condensate grew by 3.2 percent to 203m tonnes in January-May 2007 compared to the same period a year earlier, the Russian Federal State Statistics Service (Rosstat) reported today according to RBC. Oil output climbed 3.7 percent in May 2007.

As reported earlier, the Russian Industry and Energy Ministry projects that production of oil will amount to nearly 490m tonnes in 2007, which is 2.08 percent higher than in 2006.