SEATTLE (Oil Monster): According to Bloomberg, Russian crude oil production in June this year stood below its production target as agreed by OPEC+ countries.
Based on available statistics, the nation's oil producers produced 9.022 million barrels per day last month, which is 28,000 barrels per day less than what is needed, considering compensation reductions.
It is important to remember that Russia has consistently been held accountable for its noncompliance with OPEC+ output limitations. For the majority of 2025, the nation has demonstrated better adherence to the goals, with pumping levels staying below the necessary thresholds.
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Russia's June production limit was raised by 78,000 barrels to 9.161 million barrels in accordance with the provisions of the deal. The actual production targets for the month were established at 9.050 million barrels per day after accounting for the voluntary 111,000 barrel per day compensation cut for the month.
It is quite challenging to have a correct assessment of Russian production, as Moscow has stopped releasing official production figures since its full-scale invasion of Ukraine. The monthly production figures are arrived at after analysing indicators such as seaborne exports and domestic refinery runs.
Incidentally, Russia is currently the world’s largest producer of crude after the US and Saudi Arabia