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What will be Russia's average oil output for Q3 2024?
3
Resolution / Starting Odds
Below 9.0 million b/d • 25%
Between 9.0 and 9.1 million b/d • 25%
Between 9.1 and 9.2 million b/d • 25%
Above 9.2 million b/d • 25%
Russian Energy Ministry's public reports
Story
Russia Reduces July Oil Output, Nears OPEC+ Quota
Aug 9, 2024, 11:42 AM
Russia reduced its oil output in July, moving closer to its OPEC+ quota. According to sources familiar with data from the Energy Ministry, Russia produced 9.045 million barrels per day (b/d) in July, a decrease of 33,000 b/d from June. This output was about 67,000 b/d above Moscow's target under the OPEC+ agreement. The Russian Energy Ministry confirmed the decrease and reiterated Russia's commitment to the compensation schedule presented to OPEC. The overproduction was attributed to one-off issues with the supply schedule.
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Increase by more than 5% • 25%
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Less than 1.5 million tons • 25%
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Decrease by less than 5% • 25%
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25.5 million bpd or less • 25%
25.51 to 26.04 million bpd • 25%
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26.55 million bpd or more • 25%
Less than 2 million B/D • 25%
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4 million barrels per day • 25%
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Below 40 million bpd • 25%
40-41 million bpd • 25%
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Up to 5% reduction • 25%
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Saudi Arabia • 25%
Russia • 25%
United States • 25%
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Significant increase in oil prices • 25%
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Other • 25%