Russia Keeps Oil Production Below OPEC+ Quota
4 Articles
4 Articles
Russia Keeps Oil Production Below OPEC+ Quota
Russian crude oil production stayed just below the country’s quota in the OPEC+ agreement in May, unidentified sources with knowledge of the data told Bloomberg on Thursday. Russia classified its oil and gas production data in early 2022, shortly after the invasion of Ukraine. Therefore, the market relies on ship-monitoring data to track exports, anonymous sources familiar with the actual numbers, and calculations based on observed exports and d…
Russia's revenue from oil and gas sales fell by more than a third year-on-year in May. This was pointed out by data released on Wednesday by the Russian Ministry of Finance. Revenues have been reduced partly by sanctions by Western states and partly by lower oil prices. The report comes from Reuters. According to the ministry's data, Russia's revenue from oil and gas sales last month amounted to 512.7 billion rubles, which translates to $6.55 bi…
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