Russia 2020 Output at Lowest in Nearly a Decade
- Nation produced an average 10.27 million barrels a day in 2020
- OPEC+ will meet Jan. 4 to determine oil supply for February
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Russia’s crude oil and condensate output fell to a nine-year low in 2020 as the nation took part in historic OPEC+ production curbs.
The Organization of Petroleum Exporting Countries and its allies implemented unprecedented output cuts from May as global lockdowns to contain the spread of Covid-19 crushed demand. Russia shouldered the biggest burden of cutbacks along with OPEC’s de facto leader, Saudi Arabia.