The average daily oil production in Russia in February was 390,000 barrels below the quota allocated to the country under the OPEC+ agreement. This happened because production decreased for the third consecutive month amid tightened sanctions, reduced purchases by India, and record discounts on Russian raw materials.
Russian companies last month extracted an average of 9.184 million barrels of oil per day, according to OPEC’s monthly report. This is 56,000 barrels per day less than in January, when production was declining for the second consecutive month, notes Bloomberg. The February figure, according to OPEC, was the lowest since last August, when production was recovering from a slump caused by the “farewell” sanctions of the Joe Biden administration at the beginning of 2025. The last maximum was recorded in November – 9.38 million barrels per day (The Moscow Times).
