Russia continued to reduce oil production in May under its agreement with OPEC+ partners, state-run TASS news agency reported on Thursday, citing Deputy Prime Minister Alexander Novak.

According to Novak, the exact production volumes will be known in a week. He said that oil production in Russia in 2024 is expected to be 505-515 million tonnes.

Russia said last month it had exceeded its OPEC+ production quota in April for "technical reasons" and would soon present to the OPEC Secretariat its plan to compensate for the error.

 

 

(Reporting by Reuters Writing by Maxim Rodionov; Editing by Mark Trevelyan)