OPEC data show that Russian oil production increased in November.

OPEC data on Thursday showed that Russian oil production increased in November by 10,000 barrels per day, up from October. This was after the OPEC+ group agreed to a moderate increase in output quotas.

OPEC+ (which includes the Organization of the Petroleum Exporting Countries, Russia, and some smaller producers) has increased their?oil production targets by over 2.7 million bpd in this?year. This is equivalent to around 2.5% of the global demand.

After years of reductions, the shift in policy is intended to gain market share from rivals like U.S. shale oil producers.

OPEC+ decided to leave oil production levels unchanged for the 1st quarter of 2026 during its meeting at the end November, amid fears of a looming glut of supply.

Last month, Russian oil production was lower than the quota of OPEC+ set at 9.532?million bpd.

In its monthly report OPEC said that Kazakhstan's oil production?increased by 36,000 bpd last month to 1.745?bpd. This is still higher than its OPEC+ quota of 1.480?bpd for November.

Kazakhstan announced earlier?on? Thursday that it would 'adjust down its 2026 oil production plan due to maintenance expected at major oilfields?and major damage caused by a Ukrainian drone strike on the Black Sea Terminal used by the Caspian Pipeline Consortium. Reporting by Olesya Almakhova and Vladimir Soldatkin. Mark Potter edited the article.

(source: Reuters)