Russian Production Will Recover

Oilfield Technology: Russian production fell by 170 000 bpd from April to May 2019, as the disruption to oil exports caused output to fall to 60 000 bpd less than the OPEC+ commitment. The last hurdle is restoring 750 000 bpd via the northern leg of Druzhba. Due to spare export capacity, however, ESAI energy believes Russian production will recover in June.