Moscow’s crude output reached 8.971 million barrels per day (bpd) in the final month of 2024

Russia’s crude oil output in December fell below the OPEC+ target, data from the country’s energy ministry showed, according to people familiar with the figures.

Moscow pumped 8.971 million barrels per day (bpd) of crude last month, the people said, speaking on condition of anonymity because the figures are not public. That’s about 7,000 bpd below Moscow’s December pledge.

The energy ministry did not immediately respond to a request for comment sent during Russia’s public holidays.

Better compliance with output cuts is a focus of the Organization of the Petroleum Exporting Countries (OPEC) and its partners, with the Saudi- and Russian-led alliance delaying an increase in its oil output several times amid a looming surplus.

Last month, the OPEC+ alliance postponed the increase to April, agreeing to ease restrictions at a slower pace than previously planned.