Still no decline in oil production

Last September and October, I wrote about George Soros’ untimely announcement that Russian oil production was in decline. The data links in these posts seem to be working all right, providing updated information.

It indicates that the decline has so far failed to begin. In fact, the latest preliminary data puts the July 2016 output level at 10.8-10.9 mm bpd or 1.48-1.49 mm tons per day, a little higher than last years’ monthly averages. In fact, it looks like a 2% year-over-year increase for July 2016.

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