According to OPEC, Russia would offset 40,000 bpd of oil overproduction in Oct.-Nov. 2024, while 440,000 bpd of excess output will be offset in March-Sept. 2025
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Russia's cumulative oil overproduction in Jan.-June this year stood at 480,000 barrels per day (bpd) under the OPEC+ deal, and the country has pledged to offset the bulk of the excess output next year, OPEC said on Wednesday.
According to OPEC, Russia would offset 40,000 bpd of oil overproduction in Oct.-Nov. 2024, while 440,000 bpd of excess output will be offset in March-Sept. 2025.
(Reporting by Vladimir Soldatkin Editing by Peter Graff)
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