A Sudden Drop in Russia’s Oil Production Since The Beginning of February

Sources told Reuters that despite plans to increase its oil production, data show that Russia’s production of oil and gas condensate actually fell from February 1 to February 10 to 10.11 million barrels per day from an average of 10.16 million barrels per day in January.

As of February, Russia was to raise its oil production by 65,000 barrels per day, as the OPEC+ group of major oil producers agreed to ease restrictions imposed by producers to support prices and reduce excess supplies.