IEA says Russia fulfills OPEC plus deal terms by 83% in May

MOSCOW, Jun 13 (PRIME) -- Russia’s May production of liquid hydrocarbons have decreased by 250,000 barrels daily to 11.35 million barrels since October 2016, when an OPEC+ reduction deal came in force, meeting the terms of the agreement by 83%, the International Energy Agency (IEA) said in a report on Wednesday.

In April, Russia also fulfilled the terms of the deal by 83%, and compliance has amounted to 81% on average since the start of 2017.

The Russian Energy Ministry and the OPEC secretariat earlier warned that the IEA and OPEC use different calculation methods.

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