Russia has extended the halting of data publication on crude and condensate output until April 2025. OPEC+ February crude output remained flat at 41.21 million b/d, with OPEC exceeding quotas by 175,000 b/d. Russia's crude-only output slightly rose to 9.54 million b/d in February, affecting its compliance with production cuts. Several countries are extending oil cuts to boost prices, while some OPEC+ members, including Iraq and Kazakhstan, exceeded their production pledges in February.
Most #Opec+ members produced at or near their targets in February, but Iraq and Kazakhstan once again significantly exceeded their pledges. Production rose by 80,000 b/d to 34.62mn b/d last month, Argus estimates, leaving the alliance 300,000 b/d above target. #oott…
Several countries extend oil cuts to boost prices https://t.co/3Kw8NaSVKp
#Russia pumped equivalent of ~9.54m b/d of crude #oil in Feb., or ~82k b/d higher than in Jan. The nation pledged to curb output by 500k b/d below February 2023 baseline. Production last month amounted to a cut of about 406k b/d below that target. https://t.co/Vp7IsWsoA1
Russia’s compliance with its pledge to reduce crude oil output worsened slightly last month, after reaching nearly 100% at the start of the year, data show https://t.co/uy5kO2Q5T7
đź”´ RUSSIA'S CRUDE-ONLY OUTPUT ROSE SLIGHTLY TO 9.54 MLN B/D IN FEBRUARY.
Let's be serious, if you look at crude exports, outside of Saudi Arabia, this is not a production cut. Despite the cut announcement from Russia, crude exports have not materially dropped. https://t.co/szvRVAs3Kd
#OPEC+ Feb crude output flat, as group struggles to implement cuts: Platts survey OPEC+ Feb crude output flat on month at 41.21 mil b/d OPEC pumps 26.58 mil b/d, allies add 14.63 mil b/d OPEC+ production 175,000 b/d above quotas #oott https://t.co/nXL7p7mCJh
#Russia: the government announced via an order that it extends halting of publication of data on crude and condensate output until April 2025 #oott https://t.co/gydfTtiVBT