Russian oil production edged up in November to 9.367 million barrels per day, up 10,000 bpd from October, after the OPEC+ group of producing countries agreed a moderate increase in output quotas, OPEC monthly data showed on Thursday.

OPEC+, which comprises the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers, has increased its oil output targets by more than 2.7 million bpd this year, equating to about 2.5% of global demand.

The shift in policy after years of cuts is designed to regain market share from rivals such as U.S. shale producers.

OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings at the end of November amid fears of a looming supply glut.

Russian oil production last month was below 9.532 million bpd, the quota set by OPEC+.

In its monthly report, OPEC also said Kazakhstan’s oil output last month increased by 36,000 bpd to 1.745 million bpd, still above its OPEC+ quota for November of 1.480 million bpd.

Earlier on Thursday, Kazakhstan said it was adjusting down 2026 oil production plans due to expected maintenance at major oilfields and amid major damage from a Ukrainian drone attack on the Black Sea terminal used by the Caspian Pipeline Consortium.
Source: Reuters