Energy Agency lowers Russia's oil production forecast after Ukrainian attacks
The International Energy Agency has lowered its forecasts for Russian oil production in the current and upcoming year due to attacks on energy facilities in Ukraine. The projections have been reduced by 85,000 barrels per day in 2026 and 150,000 barrels per day in 2027, bringing the expected average production to around 8.9 million barrels per day in 2026. However, Russia experienced an increase in crude oil production and exports during June, and the country implemented export restrictions on some fuels to meet domestic demand, amid deteriorating security conditions at oil infrastructure sites.
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