Russia exceeded its Opec+ production quota in April for "technical reasons" and will soon present to the Opec Secretariat its plan to compensate for the error, the Russian Energy Ministry said late on Wednesday.

"Russia is fully committed to the Opec+ agreements and plans to compensate for its failure to carry out the production plan and will soon present to the Opec Secretariat its plan to cover the small deviation from the voluntary production levels," the ministry said in a statement.

The statement said Russia maintained production within the Opec+ quotas through the first quarter of 2024.

It said the April overproduction was attributable to "technical particularities of reducing production by a significant amount."

Russia has been a key member of Opec+, a grouping of member-states of the Organisation of Petroleum Exporting countries and other producing nations which have agreed to impose production cuts.

  - Reuters