Russia Says Oil Output Has Fallen Further Below OPEC+ Target

Russian data show oil production in January slipped further below the nation’s OPEC+ quota, according to people familiar with the figures.

Output fell to 8.962 million barrels a day last month, the people said, asking not to be identified because the information isn’t public. That’s 16,000 barrels a day below Russia’s target under the OPEC+ supply agreement.