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Russia’s oil output, excluding gas condensate, fell to 8.59 million barrels per day, the country’s energy ministry announced on Tuesday. 

Earlier in the day, the Interfax news agency (IFX) reported that Russia’s oil and gas condensate production stood at 39.7 million tonnes (9.39 million barrels per day) in May.

Market reaction

Crude oil continues to push lower following the sharp upsurge witnessed during the European session. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $35.65, still gaining 0.3% on a daily basis.