Published by Global Banking & Finance Review®
Posted on September 11, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleIn August, Russian oil production increased to 9.173 million bpd, according to OPEC, but remained below the OPEC+ quota. The IEA reported a decline.
MOSCOW (Reuters) -Russian oil production increased in August to 9.173 million barrels per day, up 50,000 bpd from July, OPEC monthly data showed on Thursday.
That was still less than Russia's August quota of 9.344 million bpd under an OPEC+ agreement.
The OPEC figure was in contrast with the International Energy Agency's assessment, which showed that Russian oil output declined last month by 30,000 bpd to 9.3 million bpd.
OPEC also said that Kazakhstan's oil output last month dipped by 23,000 bpd to 1.814 million bpd, compared with an IEA estimate of 1.8 million bpd.
(Reporting by Vladimir Soldatkin and Olesya AstalhovaEditing by David Goodman)
OPEC, or the Organization of the Petroleum Exporting Countries, is a group of oil-producing nations that coordinates and unifies petroleum policies to ensure stable oil prices and supply.
Oil production refers to the process of extracting crude oil from the ground and refining it into usable products such as gasoline, diesel, and other petrochemicals.
An oil quota is a limit set by OPEC or other organizations on the amount of oil that a member country is allowed to produce, aimed at regulating supply and stabilizing prices.
Explore more articles in the Finance category
