Russia's Production Discipline Slips Again

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Russia's compliance with the Opec-plus production cuts slipped to around 95% in March after almost hitting 100% in February. According to data obtained by Energy Intelligence, Russia's crude production excluding gas condensate -- which is omitted from the Opec-plus calculations -- stood at 40 million metric tons, or 9.329 million barrels per day. This means that Russia was only 95.4% compliant with the Opec-plus deal which set Russia's production ceiling for March at 9.249 million b/d.

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