Russia's September oil output up 0.6% on month to 9.932 mil b/d

Moscow — Russia produced 40.65 million mt of crude and condensate in September, equivalent to around 9.93 million b/d, according to preliminary data released by the central dispatching unit of the Russian energy ministry Oct. 2.

Production was up 0.6% in the second month that quotas were increased under the OPEC+ agreement.

Russia's quota for crude production under the agreement was 8.492 million b/d for May-July, and increased to 8.993 million b/d for August-December. The group will next meet to discuss market conditions and the deal Oct. 19.

Russia's production quota does not include condensate output. The Russian energy ministry has not yet provided separate figures for crude and condensate production for September. Condensate accounts for around 8% of overall output.

Production was down 12% on September 2019 output of 46.10 million mt, or around 11.26 million b/d, due to changes to output quotas under the OPEC+ agreement.

Deliveries of Russian oil were similar month on month. In September Russia exported 16.37 million mt. This is equivalent to a daily average of around 4 million b/d, up slightly on shipments of around 3.99 million b/d in August. Exports were down 22% from September 2019 volumes of 20.86 million mt, or 5.1 million b/d.

September domestic deliveries were 22.04 million mt. This is equivalent to around 5.385 million b/d, up slightly from around 5.382 million b/d in August. Deliveries were down 9.5% on year from 24.03 million mt, or around 5.87 million b/d in September 2019.