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Russia’s September oil production close to its OPEC+ quota — Novak

At the August meeting, eight OPEC+ countries agreed to increase oil production by 547,000 bpd compared to the August level

ST. PETERSBURG, October 8. /TASS/. Russia will adhere to its oil production quota under the OPEC+ agreement, and in September its output was close to the set limit, Deputy Prime Minister Alexander Novak told reporters.

"Our production is increasing, and we are continuing to ramp it up. This is an inertial process. Just as we cannot cut output quickly, we also increase it gradually. Therefore, we will continue to meet our quota," he said.

At the same time, Novak noted that Russia’s oil production in September was close to the quota level. "We are close to what is set within the quota," he said, responding to a question about whether the target was met in September.

At the August meeting, eight OPEC+ countries agreed to increase oil production by 547,000 bpd compared to the August level. Russia's quota for September was 9.449 mln bpd without taking into account the overproduction compensation schedule, and 9.415 mln bpd with it.