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Russian Liquids Output Fell to One-Year Low in May

OIL

Russia's liquids production in May fell m-o-m by 49 tb/d to an average of 10.9 mb/d, the lowest level since May 2022 according to the OPEC Monthly Oil Market Report.

  • This includes 9.6 mb/d of crude oil and 1.3 mb/d of NGLs and condensate.
  • Russian liquids production is forecast to decline by 0.75mb/d to an average of 10.3mb/d this year, unchanged on the month.

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