, Columnist
Russia Is the Canary in the OPEC+ Oil Mine
If the country is struggling to boost its oil production, we ought to be worried.
Is Russia really struggling to raise oil production?
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Russia is struggling to boost its oil production, even as its allowance under the latest OPEC+ agreement is rising. At least that’s what the current data show. If it’s true, we ought to be worried.
The country is the largest of the allies that joined with the Organization of Petroleum Exporting Countries last year to agree to a record cut in oil production as Covid-19 slashed fuel demand. Now, as consumption recovers and the producer group is steadily restoring its curtailed supply, Russia is lagging behind.