Russia Monitor Monthly December 2020

Page 13

SOURCE: MINOBORON

northwestern Russia, and Tu-160 and Tu-95 strategic bombers fired cruise missiles at test targets at an Arctic range. The aircraft came from two bases at Engels and Ukrainka while

the missiles were reported to be the Kh-101. Russia usually tests its nuclear triad in October while this year’s delay could have been due to the coronavirus pandemic.

18 December 2020

RUSSIA STRUGGLES TO MEET OPEC+ OIL CUTS Russia noted a slight increase in its crude oil output in November 2020. It rose to 9.28 million barrels per day (bpd) in December from 9.26 million bpd in October, according to data from OPEC. Russia’s compliance with the OPEC+ oil production cuts in November likely stood at only 86 percent as the country slashed 1.72 million bpd from 2.007 million bpd.

A

lso, the figures from the OPEC report have shown that Russia’s production of condensate had hit its October baseline of 850,000 bpd. In the same paper, the oilproducing cartel has revised the country’s liquids output in 2020 by 40,000 bpd, up to

www.warsawinstitute.org

10.39 million bpd. However, OPEC has brought down the forecast for 2021. It has predicted Russia’s slash in oil production to 10.24 million bpd next year. According to its November figures, OPEC saw an increase from 10.35 million bpd to 10.36 bpd throughout 2020. In

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