This production increased slightly over the quota agreed upon in the OPEC+ alliance. Under the OPEC+ agreement and voluntary cuts, Russia’s monthly quota is 8.98 million barrels per day, according to Reuters.
Data on production in August was revised downward to 9.029 million barrels per day, compared to 9.059 million barrels per day in data issued in September.
And it ran out OPEC+ alliancewhich includes OPEC and its allies Russiaa series of significant production cuts since late 2022 to support the volatile oil market, as member states’ production quotas were agreed upon.
OPEC said that there are countries that exceeded the agreed-upon production quotas, including Russia, Kazakhstan and Iraq.
Russia has pledged to compensate for the increase in production since April through production cuts in October and November this year and in the period from March to September next year.
