Russian Oil Output Unchanged In April, Misses Global Deal Target

Russian oil output stood at 10.97 million barrels per day (bbl/d) in April, unchanged from an 11-month high in March and above a target set by a deal with OPEC on curbing output, Energy Ministry data showed on May 2.

Russia agreed to cut oil production by 300,000 bbl/d from the 11.247 MMbbl/d level it reached in October 2016, the baseline for reductions under a pact with the OPEC and other producers.

The deal is valid until the end of the year. OPEC and some non-OPEC countries, including Russia, will gather in Vienna in June to review the deal.