Russia has missed its oil output reduction target for September that was agreed in the OPEC+ deal, Russia's Energy Minister Alexander Novak said on Sunday.
In September, the world's second largest oil producer could only meet approximately 90% of its oil reduction target that was set in the OPEC+ agreement, Novak announced in Serbian capital Belgrade, according to Russian news agency TASS.
"We had specific circumstances with the production of gas condensate, since [we are] entering the winter period," and Russia could only reduce its oil production by 200,000 barrels per day (bpd) last month, Novak said.
Russia needs plenty of natural gas to consume and export during the winter season, and as the production of gas condensate increases, this also leads to a higher amount of oil output from wells.
According to the OPEC+ deal on Dec. 7, 2018, Moscow agreed to lower its oil production by 228,000 bpd, while OPEC and its allies promised to reduce total output by 1.2 million bpd.
The agreement was later extended until the end of March next year.
Novak reiterated that Russia is dedicated to execute the OPEC+ deal fully in October.
By Talha Yavuz and Ovunc Kutlu