Russia makes $17.1bln from oil exports in August

Russian exports of oil rose in the month of August to reach a value of $17.1 billion, said the International Energy Agency on Thursday.

According to the agency, the exports witnessed an increase of $1.8 billion from exports recorded in July.

It is worth mentioning that oil prices rose to highest value in the past ten months.

Both Russia and Saudi Arabia announced a voluntary reduction of their production till the end of the year.

Russia will reduce its production to 300,000 barrels per day.