10.07.2024, 16:22
Oil production has decreased in Russia
Source: OREANDA-NEWS
OREANDA-NEWS In June 2024, the average daily oil production in Russia decreased by 114 thousand barrels and dropped to the level of 9.139 million. This is reported by TASS with reference to statistical data from the July report of the Organization of Petroleum Exporting Countries (OPEC).
In April, 9.301 million barrels were extracted daily in Russia, in May — 9.253 million. In the first quarter, the average level of raw material production in the country was 9.431 million, and in the second — 9.231 million, OPEC said.
At the same time, the above-mentioned reduction rates in Russia were not enough to meet the established organizational framework. Taking into account all voluntary reductions in oil production under the OPEC+ agreements, in June Russia was supposed to reduce the average daily production of raw materials to 8.978 million barrels. However, as a result, this figure was exceeded by 161 thousand, OPEC summarized.
Earlier, the organization reported that Russia retains leadership in terms of oil supplies to China and India. In the structure of imports of the first country, the Russian Federation was able to take a share of 19 percent, the second — 41 percent. In the Chinese market, Russia was able to outpace Saudi Arabia (16 percent) and Malaysia (12 percent), in the Indian market — Iraq (21 percent) and Saudi Arabia (11 percent).
In April, 9.301 million barrels were extracted daily in Russia, in May — 9.253 million. In the first quarter, the average level of raw material production in the country was 9.431 million, and in the second — 9.231 million, OPEC said.
At the same time, the above-mentioned reduction rates in Russia were not enough to meet the established organizational framework. Taking into account all voluntary reductions in oil production under the OPEC+ agreements, in June Russia was supposed to reduce the average daily production of raw materials to 8.978 million barrels. However, as a result, this figure was exceeded by 161 thousand, OPEC summarized.
Earlier, the organization reported that Russia retains leadership in terms of oil supplies to China and India. In the structure of imports of the first country, the Russian Federation was able to take a share of 19 percent, the second — 41 percent. In the Chinese market, Russia was able to outpace Saudi Arabia (16 percent) and Malaysia (12 percent), in the Indian market — Iraq (21 percent) and Saudi Arabia (11 percent).
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