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Russia Aims to Show OPEC+ Commitment Transparency

OIL

Russia has pledged to OPEC+ it will provide more data on its refining and exports to increase transparency towards cuts sources at vessel tracking firms and OPEC+ told Reuters.

  • Russia is the only OPEC+ member that has committed to export rather than production cuts.
  • “Deputy Energy Minister Pavel Sorokin made the offer to provide more information last week in a call with six ship-tracking consultancies and price reporting agencies tasked by OPEC+ to work with Moscow on the issue” Reuters reported.
  • S&P Global Platts, Argus Media, Energy Intelligence, Wood Mackenzie, Rystad and Kpler will be provided with more comprehensive data showing its compliance.
  • Details of the call on November 28 have not previously been reported.
  • Russia has been much more secretive about its oil and gas related information since the invasion of Ukraine.
  • Russia’s OPEC+ compliance has been difficult to track because of its cut commitments spanning both oil and oil products in the latter half of the year.
Energy BulletsCommodities
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