Russia's Oil Output Plummets Amid Ukrainian Strikes

Russia's crude oil output declined by 160,000 barrels per day in August to an average of 8.718 million barrels per day, according to OPEC's monthly report.

This represents a significant drop from July and the largest single-month decline since production began falling in December.

The shortfall is due to Ukrainian strikes on Russian oil assets, which have targeted both refining capacity and export infrastructure.

Ukrainian forces attacked Russian refineries at least 22 times in August, disrupting oil processing and exports. The attacks also affected Novorossiysk, one of Russia's most important crude export hubs on the Black Sea.