Russia to compensate 40,000 bpd for oil over-production in OPEC+ framework in Oct-Nov 2024, 440,000 bpd in March-Sept 2025

MOSCOW. July 24 (Interfax) - Russia has submitted a plan to compensate for over-production of oil within the OPEC+ framework to the OPEC Secretariat, OPEC said in a press release.

Russia will compensate 10,000 bpd in October and 30,000 bpd in November, then nothing until 16,000 bpd in March, rising in the following months and peaking at 110,000 bpd in September 2025. The total is 480,000 bpd.