(VOVworld) – Russian oil output jumped by almost 4 percent in September from the previous month to over 11 million barrels per day to make a new post-Soviet record in oil output.

Russian President Vladimir Putin (right) and Elvira Nabiullina, Governor of the Central Bank of Russia (left) at a meeting in Moscow on September 13 (Photo: EPA/ VNA)

On Sunday, Russia’s Ria Novosti news agency quoted the Ministry of Energy saying that oil exploitation increased in the context of rising oil price in the world market. Oil prices started to rise after Russia reached an agreement with the Organization of the Petroleum Exporting Countries on limiting the output to stabilize the record low oil price over the past decades due to redundant supply in the world market.