Russian crude production rebounds after Trump diesel deal, IEA says as oil markets return to surplus

Russia’s crude production rose to 8.73 million barrels a day in October, the IEA said, as recovering Gulf exports pushed global supply above demand. The rebound follows a diesel deal involving Trump, according to the report. The surplus marks a shift in oil market balances, with supply now outpacing consumption. The IEA’s figures point to stronger Russian output despite ongoing sanctions pressure. Traders will watch whether the surplus persists and how it affects crude benchmarks in coming months.