Is Russia Finally Complying With OPEC+ Cuts?

It looks like Russia is really trying to comply with its share of the OPEC+ production cuts this time, unlike in previous deals when it had regularly exceeded its cap, attributing higher production to condensate output. In the new round of cuts, Russia is said to be nearly complying with its quota, two sources with knowledge of Russia’s oil and condensate production so far in May told Reuters. As part of the OPEC+ deal, Russia pledged to cut its production to 8.5 million bpd in May and June from a February 2020 baseline, or by around…