Russian Crude Output Lags OPEC+ Quota on Sanctions and Attacks

Russia’s crude oil output last month was well below its OPEC+ quota, as the country struggled to find buyers for its sanctioned barrels and Ukrainian drone attacks hampered refineries.

An average 9.43 million barrels a day were pumped in November, according to people with knowledge of the data, who asked not to be identified discussing confidential information. While that was 19,000 barrels a day above the October level, it lagged the nation’s November target by more than 100,000 barrels a day, Bloomberg calculations show.