Putin: OPEC + oil production increase a little more than agreed

Russian President Vladimir Putin said on Thursday that the OPEC Plus rally increases oil production a little more than agreed, but not all countries are in able to increase production in meaningfully.

“Not all oil producing countries are in able to rapidly increase production, “he added.

Russia increased its oil and gas condensate production to 10.84 million barrels per day in the period from 1 to 17 October, from a media of 10.72 million barrels per day in September.

Russia has implemented this measure with the OPEC + group by gradually canceling the supply cuts thanks to the improvement in demand with the recovery of the global economy from the Covid-19 pandemic.

Putin had recently stated that the OPEC Plus deal will go on until the end of 2022, and there is an opportunity to further extend cooperation within this alliance.

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