RUSSIAN OFFENSIVE CAMPAIGN ASSESSMENT, JUNE 6, 2024
Lagging compliance to agreed curbs has been a bone of contention between Saudi Arabia and other top producers. Russia, Iraq and Kazakhstan respectively overproduced 200,000 barrels a day, 240,000 barrels a day and 72,000 barrels a day in April. In recent months, flows of Russia’s oil to global markets were boosted by 400,000 barrels a day as Ukrainian attacks on its refineries reduced Moscow’s capacity to process the oil at home.
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