OREANDA-NEWS In June, Russia will be able to increase oil production by 62,000 barrels per day compared to May, to 9.762 million, according to the OPEC+ communique.

Collectively, seven key participants decided to increase the maximum permitted production level by 188,000 barrels per day compared with voluntary restrictions. Individually, they will be able to provide an increase to the following limits:
Saudi Arabia also increased by 62,000 barrels per day, to 10.291 million;
Iraq — by 26,000, to 4.352 million;
Kuwait — by 16 thousand, to 2.628 million;
Kazakhstan — by ten thousand, up to 1,599 million;
Algeria — by six thousand, up to 989;
Oman — by five thousand, up to 826.

Since April 2023, the OPEC+ Seven has additional restrictions — in addition to oil production quotas established for all parties to the agreement. Since April last year, they have been gradually abandoned, so they meet monthly to discuss plans for the next month.