Russia to compensate surplus oil production — Energy Ministry
Business & Economy
June 13, 17:25
The updated production compensation schedule will be sent to the OPEC Secretariat in the near time
MOSCOW, June 13. /TASS/. Russia was above the level of OPEC+ limitations for oil production in May according to independent sources and will compensate them, the Ministry of Energy said.
"Production volume exceeded from April will be fully adjusted further on. The production surplus will be compensated during the leveling period that will continue until the end of September 2025," the ministry said.
The updated production compensation schedule will be sent to the OPEC Secretariat in the near time. "The issue of overproduction will be solved in June, with target levels achieved," the ministry added.