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Russia even slightly exceeded the OPEC + deal
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Russia even slightly exceeded the OPEC + deal 

The average daily oil and condensate production in Russia from June 1 to 29 was at the level of 1.272 million tons. This follows from the data of the Central Dispatch Directorate of the Fuel and Energy Complex (CDU TEK).

 OPEC +

Photo: forexprofessional.ru

Russian official statistics keep track of production in tons, while OPEC counts in barrels. Recalculation into barrels is carried out at a single coefficient of 7.33, which is used for Urals export oil.

Thus, it turns out that Russian oil and condensate production by the end of June was 9.323 million barrels per day including gas condensate. If we take the data on daily production only on June 29, it is clear that the oil industry by the end of the month accelerated the decline in production – up to 9.301 barrels per day.

Without condensate, Russia even slightly exceeded the OPEC + deal

According to the terms of the OPEC + deal, Russia agreed in May – July to cut production by 2.5 million barrels per day – to 8.492 million barrels. By agreement of Russia with OPEC, gas condensate is not included in the quota for reducing production, but only oil.

According to TASS estimates, in May Russia produced about 797 thousand barrels of condensate per day. Later, the International Energy Agency provided similar figures.

If in June the volume of condensate production remained at the same level, then oil production this month reached 8.526 million barrels per day of oil. And the OPEC + agreement was implemented at 100.4% of the plan.

At the same time, the Ministry of Energy does not publish data on condensate production in Russia. According to the Ministry of Energy, in May Russia produced 8.59 million barrels of oil per day. : ///

Record Russia even slightly exceeded the OPEC + deal first appeared TEKNOBLOG .

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