Iraq has reduced its oil production by 100,000 barrels per day (bpd) in April, primarily from state-run fields in Basra, in response to pressure from OPEC+. April output in federal Iraq saw this reduction. Meanwhile, Russia has faced technical difficulties leading to crude overproduction, with output slightly above its target. The Russian Energy Ministry plans to present a proposal to OPEC+ to offset the additional production.
Russian Energy Ministry says Russian oil production was slightly above agreed to target https://t.co/QBjwFnk1od
#OOTT | Russian Energy Ministry: Our Crude Output In April Was Slightly Above Target, Due To Technical Difficulties - To Present To OPEC+ Plan To Compensate For Extra Output
RUSSIA PRESENTS PLAN TO OPEC+ TO OFFSET ADDITIONAL PRODUCTION
RUSSIA FACES INCREASED CRUDE OVERPRODUCTION DUE TO TECHNICAL DIFFICULTIES
post about OPEC+ production capacity and baseline renegotiations titled "capshoot"
#Iraq slashes production under #OPEC-plus pressure April output in federal Iraq dropped by 100,000 bpd, with cuts coming mostly from state-run fields in Basra. #oott https://t.co/bLhOMoZyow