According to the latest available data from early spring, Russia’s oil production was trimmed by about 300,000 barrels per day. The first month of the season showed an average output near 9.7 million barrels per day, with February hovering around 10 million bpd as reported by OPEC and other primary energy agencies. The figures reflect ongoing adjustments in national production that align with market management efforts to balance supply with demand and to support price stability in global energy markets. Russia continues to monitor output levels in coordination with international partners and independent trackers to ensure transparency about changes that influence both domestic budgets and international price signals.
On May 4, Deputy Prime Minister Alexander Novak announced that Russia is currently reducing its daily oil production by 500,000 barrels compared to February. This move is part of a voluntary cut intended to curb surplus output that exceeds established quotas set by OPEC member nations. The government stressed that the reduction is not a fixed, one-off measure but a continuation of policy designed to adapt to evolving market conditions. Independent sources have been tasked with validating the official numbers to maintain credibility across economic analyses and energy market briefs.
In March, the country reported a drop in liquid hydrocarbon production that month by about 282,000 barrels on a monthly basis, bringing the average to around 11.1 million barrels per day. The breakdown includes roughly 9.7 million barrels per day of crude oil and a broad share of light hydrocarbons derived from associated petroleum gas and condensate processing, along with other liquid fractions. Analysts interpret these movements as a response to a combination of global demand trends, domestic production costs, and the strategic choices that accompany the management of energy resources within sovereign budgets.
For the first four months of the current year, the Russian Ministry of Finance noted that oil and gas revenue had declined significantly compared with the same period in the prior year. The reported figure stood at 2.282 trillion rubles, underscoring a drop of over half in year-over-year terms. The ministry also emphasized that monthly revenue dynamics are gradually stabilizing and are expected to align with a long-term baseline around eight trillion rubles per year. Market observers in Canada and the United States continue to track these fiscal indicators because they influence national energy policy decisions, currency effects, and broader energy security planning. These developments underscore how government policy, market discipline, and global price trends interact to shape energy income and budget planning for large oil-producing economies.