Skip to main content

Russian crude output fell by nearly 9% to 9.16 million barrels per day (bpd) compared with March levels, according to assessments by OPEC+ secondary sources, an internal report seen by Reuters on Tuesday showed.

This meant that Russia last month produced 1.28 million bpd below the levels required in an oil production cut agreement between the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+.

Overall, OPEC+ produced 2.6 million bpd below its targets in April, the data showed.

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.