Russia's crude oil production rose slightly in October by 9,000 barrels per day (bpd) to around 9.01 million bpd, the Organization of the Petroleum Exporting Countries (OPEC) said on Tuesday, citing data from secondary sources such as consulting firms.
This figure is slightly higher than the quota agreed by the OPEC+ group of major oil producers, which includes OPEC and its allies such as Russia. Under OPEC+ agreements and voluntary cuts, Russia's monthly quota stands at 8.98 million bpd.
Russia has pledged to compensate for its overproduction since April with cuts in October and November this year and between March and September next year.
Countries' compliance with production cuts agreed by OPEC+ has received particular attention, particularly with regard to Iraq and Kazakhstan, which have pumped beyond targets and promised cuts additional funds to compensate for the excess.
Last week, Deputy Prime Minister Alexander Novak said Russia would stick to its commitments to the OPEC+ group and that it had reached its promised oil production level of 9 million bpd.
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