Commodities Oil hits multi-week lows as OPEC and Russia look to raise output Updated : May 31, 2018 08:50 AM IST U.S. crude output has already surged by more than 27 percent in the past two years, to 10.73 million bpd, ever closer to Russia’s 11 million bpd. U.S. energy companies added 15 rigs looking for new oil in the week ending May 25, bringing the rig count to 859. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.