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Russia’s February Oil Output Fell Despite OPEC+ Higher Quota

  • Crude and condensate production at 10.095 million barrels/day
  • OPEC+ meets this week to discuss supply levels beyond March
Russian Oil Wagons As Crude Plunges Toward $10
Photographer: Andrey Rudakov/Bloomberg
Updated on

Russia last month pumped below its OPEC+ oil-output target for the first time since the historic curbs began last May, failing to take full advantage of a more generous quota.

The nation produced 38.56 million tons of crude and condensate in February, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equates to 10.095 million barrels a day, based on a 7.33 barrel-per-ton conversion ratio.