The volume of oil and gas condensate production in Russia collapsed by 10.9 percent (to 125.06 million tons) in the first quarter of 2021 compared to the same period last year.

Average daily production was 10.19 million barrels. In March, 43.34 million tons of oil with gas condensate were produced, which is 9.3 percent less than in March 2020.

Earlier it became known that the OPEC+ countries agreed to increase oil production. The agreement provides for an increase in crude oil production in May by 350 thousand barrels per day, in June – the same amount, and in July – by 450 thousand barrels.