Russia cuts oil production to 9 million barrels per day
26.03.2024 - 12:53
The Russians plan to reduce oil production in the second quarter of 2024.
The Russians want to reduce oil production to 9 million barrels per day by the end of June. This was reported by Reuters with reference to its own sources.
Such a decision is justified by “the fulfillment of obligations to OPEC+”. Earlier this month, Russian Deputy Prime Minister Alexander Novak announced that the Russian Federation would reduce oil production and export by an additional 471,000 barrels per day.
Sources told Reuters that the production cuts were due, in particular, to repairs at refineries, many of which had already cut fuel production as a result of Ukrainian drone attacks.
Read also: Which companies transport Rosneft, avoiding Ukrainian sanctions.
Russia’s oil and gas condensate production has now declined from an annual peak of 11.7 million barrels per day in 2019 to around 10.8 million in recent months.
Note that the Russian Federation does not disclose crude oil production statistics since the beginning of the full-scale invasion of Ukraine.
USM recently wrote that a tanker with Russian oil had an accident off the coast of Denmark.
