Russia says it slashed oil production by 700,000 barrels a day in March, far more than originally planned

• Russia cut oil production by 700,000 barrels of oil a day in March, per Bloomberg.
• That is a bigger reduction than the 500,000 barrels a day that the country pledged to cut originally.
• The reduced output comes as OPEC+ pledges production curbs of 1.1 million barrels a day starting in May. 

Russia reduced its production of crude oil by 700,000 barrels a day last month, a larger cut than previously pledged, Bloomberg reported.

However, Bloomberg said the data sows doubt over how much oil Russia actually produced, as it doesn't align with the country's seaborne exports and domestic refinery supplies.