Russian frms freed from Opec+ restraint

摘要

Russia’s leading companies should, in theory, be able to quickly increase crude production now that the Opec+ output deal is coming to an end. Russian producers will be able to raise output by 200,000-300,000 b/d shortly after the Opec+ deal expires on 31 March and could add up to 500,000 b/d. Pro- duction was 11.24mn b/d in February, oil ministry data show. Nearly all the coun- try’s key producers say they can produce more once the restrictions are lifted, but their longer-term plans could be hit if prices remain subdued. Crude markets have collapsed since the unravelling of the Opec+ deal on 6 March, with Baltic- loading Urals plunging by more than a third to $32.11/bl in the week to 9 March.