Russia may increase oil production within OPEC+ from February

From February, Russia may increase oil production by 65,000 barrels per day from January, Report informs, referring to Angi.

The indicator will increase by 0.7 percent - to 9.184 million barrels per day.

In January, oil production in Russia was supposed to stay at 9.119 million barrels per day.

Following 28 days of January, the average daily production of oil with condensate in Russia amounted to 1.387 million tons (15,000 tons, or 1.1 percent higher than the December level).

Condensate production isn’t considered in the transaction, if the average daily condensate production in December – 108,000 tons is subtracted, then the output of only oil amounted to 1.279 million tons per day or 9.236 million barrels per day with a barrelization coefficient of 7.22.

Thus, the average execution of an OPEC+ deal for 28 days in January can be estimated at 94 percent.