Russian July oil output rises minor
Russia increased its oil production in July by 100,000 barrels per day, reaching more than 9 million barrels daily, supported by higher exports and refinery recoveries. Despite sanctions and attacks on refineries, Moscow continues to maintain production levels to preserve its importance as a major source of budget revenue. However, expectations of a potential decrease in production in August are on the horizon due to threats and refinery closures. This increase comes amid a decline in production in late 2025 and infrastructural damages, with plans to boost exports through western ports by 4% in August, although ongoing attacks may lead to adjustments in these plans.
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