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Investing.com -- Russian oil production increased to 9.173 million barrels per day (bpd) in August, representing a rise of 50,000 bpd from July levels, according to monthly data released by OPEC on Thursday.
Despite the monthly increase, Russia’s production remained below its allocated quota of 9.344 million bpd under the OPEC+ agreement.
The OPEC figures present a different picture than data from the International Energy Agency (IEA), which reported that Russian oil output actually declined by 30,000 bpd to 9.3 million bpd during the same period.
In its monthly report, OPEC also noted that Kazakhstan’s oil production decreased by 23,000 bpd to 1.814 million bpd in August. This figure differs slightly from the IEA’s estimate for Kazakhstan, which placed production at 1.8 million bpd.
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