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Russia Seen Struggling to Keep Pace With OPEC+ Supply Hikes

  • Country may only manage about half of scheduled oil increases
  • Higher drilling seen delivering additional supply after 2022
Updated on

Russia may be able to deliver only about half of its scheduled increases in crude production over the next six months, joining the ranks of OPEC+ nations that are struggling to ramp up even as fuel demand rebounds from the pandemic. 

With crude already trading above $85 a barrel in London, the outlook for Russian output leaves the global market looking even tighter than expected. It risks amplifying the energy-price surge that’s contributing to the highest inflation in decades.