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Russia to Pump Record 520 Million Tons of Oil in 2013, Minister Says

Energy Minister Alexander Novak said Saturday that Russia would pump more than 520 million tons of crude oil in 2013, a post-Soviet record.

Already the world's biggest producer, Russia has boosted oil production this year on the back of high prices.

"This year we expect oil [output] to be about 520 million tons, despite setting a goal of pumping between 505 to 510 million tons," Novak told reporters during a trip to the U.S. for meetings with his U.S. counterpart.

In 2012 Russia produced 518 million tons of oil, up from 511.4 million tons in 2011.

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