MOSCOW, July 24. /TASS/. Russia has sent an updated schedule of oil production compensations within the OPEC+ deal to the OPEC Secretariat, the Russian Energy Ministry said.

The country will compensate overproduction in two stages by September 2025: in October-November 2024 and from March to the end of September 2025.

"Russia will solve the overproduction issue and will fully meet requirements in July. Russia will compensate production surplus from April 2024 during the compensation period distributed between October - November 2024, and from March until the end of September 2025," the ministry informed.

According to estimates of independent sources approved in the agreement, Russia was above production volumes in June of this year, the ministry noted. "However, the production level was declining every month, starting from April," the ministry added.