Wednesday, March 11, 2026

OPEC data show that Russian oil production fell by 56,000 bpd during February.

March 11, 2026

According to a copy of OPEC's monthly data, reviewed on Wednesday, Russian oil production fell by around 56,000 barrels a day or 0.6% in February compared to?January, bringing it down from 9.184 million bpd.

The U.S. has imposed pressure on India, Russia's second largest buyer, to reduce crude oil exports.

Since February, Russian crude oil sales to India'started to recover' after Washington granted Indian refiners a 30-day waiver of sanctions to purchase Russian oil loaded onto vessels starting March 5, to offset the global energy crunch caused by the Iran War.

Russia is the third largest oil producer in the world, after the U.S.A. and Saudi Arabia. It also has the largest natural gas reserves in the world.

In its monthly report OPEC said that Kazakhstan's oil production?last months rose by 293,000 bpds to 1.489 millions bpds, reversing a decline in January.?Thanks to a 'gradual recovery' of production 'at the Tengiz Oilfield, the largest oilfield in the country. Reporting by Olesya Almakhova. Vladimir Soldatkin wrote the article. Mark Potter (Editing)

(source: Reuters)

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