Russia's Oil and Gas Output: A Closer Look

Russia's oil production saw a slight decrease in the first five months of the year, with 211 million metric tons produced. Despite a rise in crude oil production in June, the total output remains below OPEC+ quotas. Natural gas output fell, while coal production increased slightly.

Russia's oil production decreased by 3.5% in the first five months of the year, totaling 211 million metric tons, according to the energy ministry's latest data.

The presentation, delivered by Energy Minister Sergei Tsivilev to the Federation Council, highlighted the complexities facing the nation, including fluctuating crude oil outputs and declining natural gas production.

Despite an uptick in crude oil production in June, levels remain under OPEC+ quotas. Meanwhile, natural gas output suffered a year-on-year drop of 3.0%, while coal production saw a marginal increase.

(With inputs from agencies.)