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World oil production grows with help from Russia, as prices start to ease

“Uncertainty remains regarding the degree to which the U.S. sanctions will take Iranian crude oil off the market,” the Energy Information Administration said Wednesday, even while predicting that the sanctions would limit Iran’s crude oil production and exports” writes Andrey Rudakov Bloomberg for World oil supply grew in July, helped by strong production from Russia, the International Energy Agency reported Friday, helping to ease higher prices that have concerned President Trump.Total global oil supply climbed 300,000 barrels per day last month, to 99.4 million barrels per day.The IEA, in its monthly , said Russia’s crude and condensate production rose by 150,000 barrels a day last month, to 11.21 million barrels a day.

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