IEA Cuts Russia's Oil Production Forecast Due to Ukrainian Attacks
AI Summary
The International Energy Agency has downgraded its forecasts for Russia's oil production in 2026 and 2027 due to intensified Ukrainian drone attacks damaging Russian energy infrastructure. These attacks have impacted Russia's storage, refining, and transportation assets, lowering production projections from previous estimates.
Russia's oil production in 2026 and 2027 is set to be lower than previously expected, due to intensified Ukrainian drone attacks on Russia's energy infrastructure, the International Energy Agency said in its monthly oil market report on Friday. Russia produced on average 9.2 million barrels per day (bpd) in 2025. The forecasts for this year and next, however, has been downgraded from previous projections as Ukraine continues to inflict damage on Russia's storage, refining, and transportation assets. “Continued strikes on refineries, storage…