Russian oil production falls to 8.75 million bpd

Sources told Reuters that Russian oil production in the first five days of May fell to 8.75 million barrels per day (bpd) and is approaching the 8.5 million bpd target set for May and June by a global agreement for supply cuts. 

Although it's only the first few days, Russia's Deputy Energy Minister Pavel Sorokin said in an online interview that the country's oil producers are striving to reach the goal as quickly as possible.

However, the minister also said that a recovery to pre-crisis levels will not be achieved quickly and said that some countries where large global oil companies operate may struggle to meet the goals of the global agreement. 


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