Oil production in Russia fell for the third consecutive month 0 10

In January, oil production in Russia, excluding condensate, decreased by another 46,000 barrels due to sales difficulties, reaching 9.28 million barrels per day. This marks the third consecutive month of declining production volumes, Bloomberg reports, citing sources familiar with the statistics.

This result is already nearly 300,000 barrels per day below what the country can produce under OPEC+ quotas. Russian authorities have not published official data on oil production in recent years, so the media relies on information from sources and experts.

According to the report, alongside the decline in production, the volume of Russian oil stored on tankers at sea is increasing. Pressure from the United States complicates the search for buyers and leads to increased discounts on shipments. By early February, 143 million barrels had accumulated on vessels, which is the volume produced in the country over two weeks.

A further decline in shipments to India in the spring could be a new blow after the country signed a trade agreement with the United States that includes tariff reductions.