Russia Claims Compliance With OPEC+ Oil Output Cuts in December

Russian crude oil production fell in December to below Moscow’s output cap under the OPEC+ agreement, anonymous sources with knowledge of Russian production data told Bloomberg on Tuesday. Russia produced 8.971 million barrels per day (bpd) of crude oil last month, down from previous months and about 7,000 bpd below the country’s production target under the OPEC+ deal, according to the sources. Russia stopped releasing oil and gas output data shortly after the invasion of Ukraine in 2022. The market and analysts have to rely on sources…