Russia’s crude oil production stood at around 11.24 million bpd in the first 18 days of April, Reuters reported on Friday, citing an industry source. This means that the leader of the non-OPEC group part of the OPEC+ deal has yet to fall in line with the pledged production cuts. As part of the OPEC+ production cuts between January and June, Russia is taking the lion’s share of the non-OPEC cuts and pledged to reduce production by 230,000 bpd from October’s post-Soviet record level of 11.421 million bpd, to 11.191 million bpd. Moscow has repeatedly said that due to weather and geological conditions in the cold Russian winter, it cannot cut its oil production too quickly. In March, Russia continued to gradually reduce oil production, but it missed its production cut target under the deal, according to data from Russia’s Energy Ministry. As at the end of March, Russia […]