Russian President Vladimir Putin said that Russian gas production rose by eight percent in the first four months of the year to 246.4 billion cubic meters.
Putin added, in a televised speech at a meeting of top oil officials, that Russian oil production has fallen by 1.8% year-to-date to 195.7 tonnes, a decline largely due to production cuts under OPEC+ agreements.
In March, Russia announced that it would gradually reduce its oil production and exports during the second quarter by an additional 471,000 barrels per day.
Markets are waiting to see what direction OPEC and its allies, known as OPEC+, will take at their next meeting in early June, with the alliance widely expected to extend current production cuts into the second half of the year as some members seek to boost their output capacity.
Goldman Sachs also ruled out that the OPEC+ alliance would announce a partial rollback of voluntary production cuts in June.
The bank added that the recent build in inventories had come as a surprise, and as a result its model now projects only a 37 percent chance that the alliance will decide to increase output in June.
Earlier in May, Russian Deputy Prime Minister Alexander Novak said there were no discussions within the OPEC+ alliance about increasing oil production.
