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Reuters: Russian oil production rose month-on-month in May

Adel 16 June, 2022 1:13 pm Commodities, Market Update

An OPEC+ document seen by Reuters and citing secondary sources showed on Thursday that Russia’s crude oil production rose to 9.273 million barrels per day in May from 9.159 million in April.

Total production by members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies including Russia, the cartel known as OPEC+, fell by 2.695 million barrels from target levels in May, after it was 2.595 million barrels per day lower in April.

OPEC+ continued to produce less than its quota. The overall compliance rate with agreed production cuts was 256 percent in May, up from 220 percent the previous month.

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