Russian oil output falls to 9.39 million bpd in May, close to OPEC+ goal: Ifax….LIVE NEWS UPDATE BY ROYAL TRADERS


 Russian oil and gas condensate production fell to 39.7 million tonnes (9.39 million barrels per day) in May, near its target under a deal within the OPEC+ group, Interfax news agency reported on Tuesday, citing energy ministry data.

The figure was in line with data from sources, reported by Reuters on Monday, and down from 11.35 million barrels per day (bpd) in April.

Under the agreement between Russia and the Organization of the Petroleum Exporting Countries, a group known as OPEC+, Moscow has pledged to reduce its output by around 2.5 million bpd to 8.5 million bpd to help support oil prices. The deal does not include output of gas condensate, a light oil.

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