Last year, crude oil and condensate production in Russia reached its highest level since the fall of communism in the country. This is despite the limitation of production under the agreement with OPEC.

Russia produced 560.2 million tonnes of oil in 2019, an increase of 0.8% from the previous year, according to preliminary data from the Energy Ministry. That’s the equivalent of 11.25 million barrels per day. For comparison, in 1987, Russia produced 11.416 million barrels per day.

Russia’s record production, which is one of the architects of OPEC’s initial cutbacks deal, shows how unsatisfactory compliance with the agreement is. The country has repeatedly failed to meet its quota last year, exceeding its limit in 9 out of the 12 months of 2019.

Under the agreement with OPEC, Russia has promised to reduce its output by 228,000 barrels per day, estimated from production values ​​from October 2018 – 11.418 million barrels per day. However, that number will change this month after the cartel and its allies (collectively known as OPEC +) agreed to increase the cuts in December.

Earlier, Saudi Energy Minister Prince Abdulaziz bin Salman urged countries that do not fully comply with their commitments to bear their share of the downgrade accordingly. The kingdom is one of the countries which has reduced the most production in the group.

Moscow has agreed to increase the shrinkage by another 70,000 barrels per day to about 300,000 barrels in the first quarter of the year. But the base volume and the calculation of the monthly production will not include the so-called condensate.

Russian Energy Minister Alexander Novak has rejected the claim that the change is a door that allows Russia to produce more oil but still claims to be fulfilling its commitments.

Meanwhile, Moscow has already begun to raise the issue of the future of the OPEC+ alliance. When they meet in March, the countries in the group will be in abeyance for more than three years, with the initial idea being for no more than six months. Novak said last month that during the meeting Russia could raise the issue of withdrawing from the agreement.