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Russia Submits Compensation Plan to OPEC+

OIL

Russia has submitted a compensation plan to OPEC to deal with its previous overproduction beyond its quotas, The country’s Energy Ministry said via Telegram.

  • Russia remains fully committed to meeting its targets under the OPEC+ deal, it said.
  • Russia will also compensate for overshooting output during the periods Oct-Nov 2024 and also March-Sep. 2025.

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