Russia Pledges to Make Up for Crude Overproduction in April
- Energy ministry says output exceeded target last month
- The nation will submit plan to OPEC Secretariat soon
Rail wagons for oil, fuel and liquefied gas cargo stand in sidings at Yanichkino railway station in Moscow, Russia.
Source: Bloomberg
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Russia exceeded its crude production commitment for April and will soon present OPEC and its allies with a plan to make up for the extra output, the country’s Energy Ministry said Thursday.
“The overproduction was due to technicalities of making significant output cuts,” the ministry said in a statement on its official Telegram account, adding that Russia remains committed to its voluntary curbs within the current OPEC+ deal.