Russia Oil Output Below OPEC+ Quota Amid Cold Siberian Weather
- Crude, condensate output averaged 10.115 million b/d Feb. 1-15
- Some producers cut flows to pipelines due to low temperatures
Photographer: Andrey Rudakov/Bloomberg
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The expected increase in Russia’s February oil output has so far failed to materialize, with some fields forced to curb pipeline flows due to abnormally cold weather.
The OPEC+ member pumped 1.38 million tons a day of crude and condensate on average from Feb. 1 to 15, according to two people with knowledge of production data, who spoke on condition of anonymity. That equates to a daily rate of 10.115 million barrels, about 44,000 barrels lower than January’s level.