OPEC+ countries agreed to adjust the total level of oil production from 2024 to 40.46 million barrels per day. Russia, in turn, should reduce oil production to 9.828 million bpd.
OPEC+ countries will reduce production by 1.393 million bper, while our production will remain at about the current level. The only unscheduled and serious current reduction was made by the Saudis: in July, they will unilaterally reduce production for an additional month with the possibility of further extension.