Russia exceeded its oil production plan under the OPEC deal in August+

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By the end of August 2024, Russia exceeded the oil production plan under the agreements on the OPEC+ deal by 81 thousand barrels per day (b/d), despite the fact that it slightly reduced oil production over the month. Such data was published in the latest report of the organization.

Total production amounted to 9.059 million b/d, whereas according to the agreements on voluntary reduction, the Russian Federation in August had to reduce production to 8.978 million b/d.

In June, the production rate in the Russian Federation was at 9.115 million b/d, in July - 9.089 million b/d. At the end of the first quarter of the year, the average production level was 9.426 million b/d, at the end of the second quarter - 9.22 million b/d.