Russia has not raised its oil production as much as its increased quota under the OPEC+ deal has allowed in recent months. Estimates show that the leader of the non-OPEC group in the OPEC+ pact has not taken full advantage of the coalition’s past two agreements about raising the production ceilings for members.
The quotas are proportionate to baselines, which means that the biggest producers, Saudi Arabia and Russia, get the largest increases in their respective oil output when OPEC+ eases cuts. While OPEC’s top producer…How Much Oil Is Russia Really Pumping?
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