Russian Deputy PM: We will consider an extension of OPEC+ deal

Russia's Deputy Prime Minister Anton Siluanov is out on the wires stating that Russia will consider an extension of the OPEC+ oil ouput cut deal. The OPEC and its allies including Russia are scheduled to meet at the end of June to discuss a potential production increase to counter mounting supply concerns.

Russia’s oil production averaged 11.126 million barrels per day between May 1 and 26, two industry sources told Reuters earlier this week. 

Essentialy, the oil output has dropped below the target of 11.18 billion barrels per day pledged by Moscow as part of an OPEC+ output cut deal to support prices.