OPEC+ produced 2.695 million barrels per day below its crude oil targets in May because of production problems at several members and as Russia faced sanctions, an OPEC+ document seen by Reuters and citing secondary sources showed on June 16.

Underproduction by the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, was higher in May, when overall compliance with planned output cuts stood at 256%, up from 220% a month earlier.

The development adds to global supply concerns as Brent crude prices in May averaged their highest in a decade close to $123 per barrel, and with June prices hovering just below at an average $118/bbl.

Global demand is recovering from the pandemic and outpacing the abilities of OPEC+ countries to increase production. 

Western sanctions on Russian oil following Moscow's invasion of Ukraine in February have strained Russian crude production growth.

Russia's crude output rose to 9.273 MMbbl/d in May from 9.159 MMbbl/d in April, but its production levels remained 1.276 MMbbl/d below target last month, the OPEC+ document showed, the largest deviation across all OPEC+ members.

Supply from the group faces additional challenges in June as a new blockade of Libyan crude oil facilities has greatly reduced the country’s production levels. Libya remains exempt from OPEC oil production quotas. 

U.S. president Joe Biden’s administration has pushed OPEC+ to boost production so as not to impair the global economic recovery. But many OPEC+ producers lack the capacity to pump more crude following insufficient investment, a trend accelerated by the pandemic.