HomeWorldEuropeIEA further cuts Russian oil output forecasts on Ukrainian attacks

IEA further cuts Russian oil output forecasts on Ukrainian attacks

-

MOSCOW, Sept 11 (Reuters) - ‌The International Energy Agency said on Friday ​it again revised down the outlook for Russia's oil production due to ⁠ongoing Ukrainian drone attacks on energy infrastructure.

Crude output in Russia, the world's third-largest oil producer, has been declining amid Ukraine's ​strikes on the country's energy infrastructure, including oil refineries.

The Paris-based IEA ‌said in its monthly review that Russia's crude forecast was cut by 125,000 barrels per day to 8.7 million bpd in ⁠2026 and by 235,000 bpd in 2027, when ⁠it is expected to average 8.6 million bpd.

A government draft forecast seen by Reuters last week showed Russia had downgraded the oil output outlook for this year to a ‌17-year low and revised the fuel exports outlook for 2026 ⁠and 2027 due to the conflict with ‌Ukraine.

According to the IEA, Russia's oil ​production declined last month by 200,000 barrels per day from July to 8.36 million bpd.

That is a steep 940,000 ‌bpd lower than the January 2026 peak ​of 9.3 million bpd ⁠and 695,000 bpd below year-ago levels, the IEA ‌said.

Russia stopped publishing data on ⁠oil output in April 2023, a little more than a year after the start of the conflict in Ukraine.

The Organization of ​the Petroleum Exporting ‌Countries said on Thursday that Russia's oil production declined by 160,000 ⁠bpd in August from ​July to 8.718 million bpd.

(Reporting by Olesya Astakhova and ​Vladimir SoldatkinEditing by Tomasz Janowski)

tagreuters.com2026binary_LYNXMPEM8A0KU-VIEWIMAGE

Author

Stay Connected

2,300FansLike
292FollowersFollow
120FollowersFollow
1,230FollowersFollow
140,985SubscribersSubscribe

Related articles

Latest posts

Share on Social Media