Russian oil output falls to 9.39 million bpd in May, close to OPEC+ goal – Interfax

Dhwani Mehta FXStreet

Citing Russian Energy Ministry data, Interfax news agency (IFX), reported Tuesday that the country’s oil output dropped in May, inching closer to the levels agreed under the OPEC+ output cut deal.

Additional details (via Reuters):

“Russian oil and gas condensate production fell to 39.7 million tonnes (9.39 million barrels per day) in May.”

“The data was down from 11.35 million barrels per day (bpd) in April.”

“Russian oil exports outside former Soviet Union in May reached 17.36 million tonnes, or 4.1 million bpd, down 14.2% year-on-year.”

Russia close to hitting OPEC+ oil output target in May – Reuters

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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