Russia has surpassed its oil production quota as of the last day of April 2019 when its output cut reached 229,000 barrels per day, a higher volume that the level agreed in October 2018 in the OPEC+ output pact agreement, Russian Energy Minister Alexander Novak said on Thursday.
Russia’s quota under the OPEC+ output cut deal was 228,000 barrels per day.
"In May 2019, Russia will keep oil output at the agreed level," Novak said, according to the press service of the Russian Energy Ministry.
In October 2018, OPEC+ countries agreed to reduce crude production by 1.2 million barrels per day, from which 812,000 barrels were allocated for OPEC producers and 383,000 barrels for non-OPEC states.
By Talha Yavuz