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Russia Keeps Oil Production Below OPEC+ Quota ...Middle East
Russian crude oil production stayed just below the country’s quota in the OPEC+ agreement in May, unidentified sources with knowledge of the data told Bloomberg on Thursday. Russia classified its oil and gas production data in early 2022, shortly after the invasion of Ukraine. Therefore, the market relies on ship-monitoring data to track exports, anonymous sources familiar with the actual numbers, and calculations based on observed exports and domestic refining. According to Bloomberg’s sources, Russia’s oil production averaged…
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