{"id":495705,"date":"2022-06-02T16:19:18","date_gmt":"2022-06-02T10:49:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=495705"},"modified":"2022-06-02T16:19:18","modified_gmt":"2022-06-02T10:49:18","slug":"opec-working-on-making-up-for-lower-russian-oil-output","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/opec-working-on-making-up-for-lower-russian-oil-output\/","title":{"rendered":"OPEC+ working on making up for lower Russian oil output"},"content":{"rendered":"<p>OPEC+ is working on making up for a drop in Russian oil output, two OPEC+ sources said on Thursday, as Russia&#8217;s production has fallen by around 1 million barrels per day as a result of Western sanctions on Moscow over Ukraine.<\/p>\n<p>One OPEC+ source familiar with the Russian position said Moscow could agree to other producers compensating for its lower output but it may not happen at a Thursday meeting and might not be in full.<\/p>\n<p>A Gulf OPEC+ source said a decision on the matter was &#8220;highly possible&#8221; at a meeting on Thursday.<\/p>\n<p>The group is meeting online later on Thursday and has been widely expected to stick to its planned monthly modest output increases despite tighter global markets.<\/p>\n<p>However, Western sanctions imposed on Russia over Ukraine may result in production and export cuts from the world&#8217;s second largest oil exporter of as much as 2-3 million bpd, according to various estimates.<\/p>\n<p>Russia was already producing below its OPEC+ target of 10.44 million barrels per day (bpd) in April with output of around 9.3 million bpd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC+ is working on making up for a drop in Russian oil output, two OPEC+ sources said on Thursday, as Russia&#8217;s production has fallen by around 1 million barrels per day as a result of Western sanctions on Moscow over Ukraine. One OPEC+ source familiar with the Russian position said Moscow could agree to other producers compensating for its lower output but it may not happen at a Thursday meeting and might not be in full. A Gulf OPEC+ source said a decision on the matter was &#8220;highly possible&#8221; at a meeting on Thursday. The group is meeting online later [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-495705","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/495705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=495705"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/495705\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=495705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=495705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=495705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}