October 31, 2018 / 1:41 PM / 2 years ago

UPDATE 1-Russian oil output reaches post-Soviet record high - source

* Russian oil output reaches 11.41 mln bpd in October - source

* Stronger oil prices, expected Iran sanctions spurred growth (Adds detail)

By Olesya Astakhova

MOSCOW, Oct 31 (Reuters) - Russia has reached an oil output of 11.41 million barrels per day, unseen since the collapse of the Soviet Union in 1991, as global curbs on production eased, an industry source familiar with the data told Reuters on Wednesday.

The source said oil production has risen from 11.36 mln bpd in September. The energy ministry will publish the official data for October on Friday.

Russian oil output C-RU-OUT surged as the Organization of the Petroleum Exporting Countries and other large oil producers led by Russia agreed in June to ease production curbs and stick to levels of output outlined in a 2016 Vienna agreement.

Output increases have been facilitated by stronger oil prices as markets prepare for tighter supply once U.S. sanctions against Iran kick in November.

Russia has already cranked up oil production above the 11.247 million bpd reached in October 2016 - the baseline for the global deal.

Russian President Vladimir Putin said earlier this month that the country was able to add another 200,000 - 300,000 bpd.

Russian oil production has been on an upward path since 1999, the year when Putin came to power, interrupted only by a decline in 2008 when global markets were in financial turmoil. In 2008 output dipped to 488 million tonnes from 491 million tonnes in 2007.

The commodity oriented economy is heavily dependant on oil and natural gas sales. The Russian central bank said on Wednesday that the oil production increase in September was the main factor behind industrial output growth of 2.1 percent last month.

The bank expects the Russian economy to grow by 1.5-2.0 percent this year. (Reporting by Olesya Astakhova Writing by Vladimir Soldatkin Editing by Edmund Blair and Elaine Hardcastle)

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