"Despite financial sanctions and the impact of the falling global oil price, Russia’s preliminary data on oil supply in 2015 indicated a record high of 10.79 mb/d [million barrels daily], up 1.3% on the year," OPEC's January Monthly Oil Market Report reads.
OPEC added that in September, the country's output of crude and gas condensate hit a new monthly record of 10.88 mb/d, while, according to the local Ministry of Energy, December oil production was even higher.
In 2014, the European Union, the United States and their allies imposed a series of economic sanctions against Russian nationals and key spheres of the country's economy accusing Moscow of meddling in Ukraine's internal affairs and escalating a military crisis in the country.
Russia has denied playing any role in the armed conflict in eastern Ukraine, warning that the Western sanctions were counterproductive.
