Russia Slashes Oil Output Forecast to 17-Year Low Amid Refinery Disruptions
Russia has revised its oil production forecast for 2026 to 511 million tonnes, marking the lowest level since 2009. This reduction from an earlier projection of 525.2 million tonnes for 2026 suggests a shift in Russia's production strategy, aligning with 2025 output levels.
The revised forecast comes amid reports of Russian crude output running below OPEC+ benchmarks due to disruptions in refineries and export infrastructure. Market participants are now considering the potential implications for global oil supply and prices.
Market analysts believe that this development could tighten supply chains, potentially impacting oil prices. Key actors such as OPEC Secretary General Mohammad Sanusi Barkindo and Saudi Energy Minister Abdulaziz bin Salman Al Saud may provide insights into future production strategies and their impact on the market.