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Russian crude oil and condensate production increased in the first two weeks of September, as the country's main producers acted in accordance with an agreement by the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+ coalition) and the fire at Gazprom facilities in western Siberia was contained, according to Metal News.
According to data from the Russian Energy Ministry, the country produced an average of 1.456,900 tonnes per day of oil equivalent to 10 million and 679,000 barrels per day between September 1 and 13, a 2.4 percent increase from the same period in August.
If this amount is maintained in September, we will see the largest monthly increase in Russian oil production in more than a year, the country's oil supply increased on September 13, reaching 10 million and 720,000 barrels per day, which indicates that the average total production this month will most likely be higher than in the first weeks.
OPEC+ producers have agreed to increase production by 400,000 barrels per day from August, given the increase in global oil demand, but recently concerns have been raised about the possibility of the coalition reaching its targets. In addition, Russia's share of the supply increase in the form of the OPEC+ agreement is about 100,000 barrels per day.
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