The International Energy Agency has downgraded its projections on Russian oil production because of Ukrainian attacks on the country’s energy infrastructure. Ukraine has stepped up the drone strikes on energy facilities, including oil refineries, in recent months, seeking to stifle Moscow’s war efforts.
Russian Oil Production Outlook
The IEA expects oil output from Russia, the world’s third-largest producer, to reach 8.9 million barrels per day this year and 8.8 million barrels per day in 2027, down from 9.2 million barrels per day in 2025. The outlook was downgraded for this year and next by 85,000 barrels per day and 150,000 barrels per day respectively.
Russia’s June crude production increased by 120,000 barrels per day from May to 8.86 million barrels per day, the agency said, 900,000 barrels per day below the quota set by the OPEC+ group comprising the Organization of the Petroleum Exporting Countries and allies.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
