Russia’s November crude output almost in line with OPEC+ pact: Report

04/12/2024 Argaam

Russia’s crude oil production in November remained flat and broadly in line with its pledged level within the OPEC+ agreement, Bloomberg reported, citing informed sources.

 

Moscow produced 8.97 million barrels per day (bpd) last month, a slight increase of 24,000 bpd above its November target, the sources said. The output also includes compensation cuts for over-producing earlier this year.

 

The news comes ahead of the OPEC+ ministerial meeting scheduled on Thursday, which is widely expected to extend the voluntary cut policy.

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