Russia may agree to let OPEC+ compensate for its current drop in oil production due to sanctions - OPEC+ source

Compensation for Russian oil may be approved gradually; there is no guarantee that it will be approved in full today.

Currently, Russia is producing about 1 million barrels per day less than its OPEC+ quota.

For about a week now there have been rumors about Russia replacing its quota with increased production from Saudi Arabia and the UAE.