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Is Russia Cheating On The OPEC Deal?

After three months of steady output, Russia’s crude oil production increased in March to 10.97 million bpd, the highest level since April 2017, as the top two Russian companies boosted their production. According to data by the Russian Energy Ministry, Russian oil production in March was 46.39 million tons, or 10.97 million bpd, up from 41.85 million tons in February, or 10.95 million bpd. The March production level showed the first increase since December 2017, and is slightly above Russia’s quota in the production cut deal. Russia’s…
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