International Energy: Russian Oil Supplies Threatened Amid Infrastructure Strikes
The International Energy Agency has lowered its forecasts for Russian oil production due to repeated Ukrainian attacks on its infrastructure, including refineries, storage facilities, and transportation. Although Russia's production increased in June to approximately 8.86 million barrels per day, export levels remain below its OPEC+ quota, with export restrictions on fuel still in place. The agency expects Russia's average production to decline to 8.8 million barrels per day by 2027, with noticeable impacts on the global crude oil market balance.
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