According to the government data released on Friday, oil production in Russia rose to 10.74 million barrels per day (bpd) in September from 10.68 million bpd in August, adding to the global oil oversupply.

Russian Finance Minister Anton Siluanov said on Friday that oil prices will not recover as fast as after the financial crisis in 2008-2009. He pointed that the ministry expect the oil price to be at $50 per barrel in 2016 and $52 per barrel in 2017.