Russia Falls Short of OPEC Oil Output Quota for June
According to anonymous sources quoted by Bloomberg on Monday, Russia did not meet its OPEC+ monthly requirements in June, at the same time as sanctions are building on Russian oil and its derived products and Ukraine has targeted such facilities in its three-year-plus defense against Moscow’s invasion.
Ever since those sanctions were introduced as a result of its full-scale invasion of Ukraine in 2022, Moscow has not released its oil-production numbers.
That, Bloomberg reported, “makes independent verification complicated, with market watchers relying on indicators such as seaborne exports and domestic refinery runs to follow trends in Russia’s oil production.”
Bloomberg’s insiders (who spoke on condition of anonymity as the information was not public) said Russia pumped just 9.022 million barrels a day of crude last month, or about 28,000 barrels a day below the required level for the month.
Under the OPEC+ agreement, of which Russia along with Saudi Arabia is a leading partner, Russia’s daily production quota for June was set at 9.161 million barrels, although Moscow was given 111,000 barrels-a-day of breathing room for June, bringing it down to 9.050 million barrels a day.
Russia – the world’s largest producer of crude after the US and Saudi Arabia – has a continuing recent history of not keeping up with OPEC+ expectations. Bloomberg calculated that it consistently has been missing those quota marks for much of 2025.
The G7’s sanctions on oil products from Russia went into effect on February 5, 2023, although adhering nations represent a minority of the globe’s population.
China and India, the world’s two largest countries by population and both members of the BRICS bloc that acts as a counterweight to Western economic dominance, are also the world’s second- and third-largest consumers of petroleum after the United States. They are happy to receive Russian oil at its discounted price.
The European Union, in its latest, seventh round of sanctions on Moscow, has aimed to tighten restrictions on Moscow’s “shadow fleet” of oil tankers that circumvent such sanctions, and in its proposed eighth round of sanctions will put an end to Russian energy imports into the 27-member bloc if passed.
Source: Kyiv Post