Russian production nears quota agreed with OPEC

On Wednesday (20), sources told Reuters that Russia's oil and condensed gas production fell to 9.42 million barrels per day between May 1 and May 19. The drop came

amid the global agreement to reduce closed production between the Organization of petroleum exporting countries (OPEC), Russia and other producers, which entered into force on May 1. Conde

nsed gas, which is a type of light oil – not included in the OPEC pact – accounts for between 700,000 and 800,000 bpd of Russia's combined liquid production. That is, oil production was about 8.72 million bpd, a figure that is close to the quota agreed with Opec+, of 8.5 million bpd of oil.

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