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Russia’s oil production up by 98,000 bpd in July — OPEC

Russia was to produce 9.103 mbd of oil in July considering all voluntary cuts and overproduction compensation obligations

MOSCOW, August 12. /TASS/. Russia’s oil production increased by 98,000 barrels per day (bpd) in July to 9.12 mln barrels per day (mbd), which is 17,000 bpd higher than the OPEC+ plan considering compensations and voluntary cuts, according to figures provided in OPEC’s August report.

Russia was to produce 9.103 mbd of oil in July considering all voluntary cuts and overproduction compensation obligations. In July, Russia was to compensate for 137,000 bpd of excess production allowed during the period of voluntary cuts within the framework of OPEC+ agreements. Consequently, production turned out to be slightly higher than planned – by 17,000 bpd.

In June, Russia produced 25,000 bpd below the OPEC+ agreements. According to OPEC data, Russia’s oil production in the second quarter of 2025 averaged 8.995 mbd compared to 8.972 mbd in the first quarter.

Russia’s oil output is currently limited by the OPEC+ agreement. The country’s baseline production quota considering voluntary cuts amounted to 8.978 mln barrels per day from the beginning of 2024 to March 2025, net of overproduction compensation obligations.

From April 2025, Russia started boosting output, which will be increasing gradually each month, as planned by OPEC+. Initially, the recovery of production was planned until September 2026, but OPEC+ began to boost production at a faster pace amid a favorable situation on the oil market. The exit from voluntary restrictions for eight OPEC+ countries in the amount of 2.2 mbd is expected to complete a year earlier – in September 2025.

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