Russia’s oil production in January reportedly fell further below its OPEC+ quota, indicating continued challenges in maintaining output levels.
Sources, speaking anonymously because the data isn’t public, reported that Russia’s oil output in January fell to 8.962 million barrels per day—16,000 barrels below its OPEC+ target, according to Bloomberg.
This decline could be linked to sanctions, logistical issues, or internal production constraints.
Russia remains compliant with the OPEC+ deal but still needs to offset past overproduction.
It pledged to submit a revised compensation plan in December, though none has been published.
Russia classified its official oil production data after Western sanctions hit its energy sector following the Ukraine invasion.
This limits independent verification, leaving market analysts to rely on indicators like seaborne exports and domestic refinery activity.
The Energy Ministry did not immediately respond to a request for comment.
