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Russia lacks swing producer flexibility, slow to revive oil output

By Vladimir Soldatkin, Olesya Astakhova 3 Min Read Russia has restored almost 45% of production cuts Russia struggled to raise output in February Russian oil production on the rise in March so far MOSCOW, March 11 (Reuters) - Russia, the world’s second biggest oil producer, has found it tough to raise output swiftly this year after cutting back by a fifth in mid-2020 during a pandemic-driven collapse in demand, showing that Moscow is a long way from becoming a swing producer. Saudi Arabia has often been cast in the swing producer role with an ability to turn its oil taps off and on again in response to market price moves.

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