Moscow — Russia can restore its crude output by as much as 250,000 b/d in July as part of the recent decision by the OPEC-led coalition to increase production, energy minister Alexander Novak said Friday, indicating that the country is returning barrels to the market quicker than had been expected. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Says market already taking Iran sanctions risks into account OPEC-led group may review output level targets upward in September "We [expect] that some 200,000-250,000 b/d, out of the 300,000 b/d cut under the production cut deal, will be restored [this month]," Novak said on the sidelines of the BRICS summit in Johannesburg, according to a statement by the ministry’s press office. Russia initially said it would increase production by 200,000 b/d under the latest agreement by the OPEC-led group in June to increase the combined output by […]