Russia's Oil Output Sees Slight Bump Amid Refinery Attacks
Russian oil production has seen a slight increase in July compared to June, exceeding nine million barrels per day (bpd). The increase was driven by higher exports and a recovery in refinery activity.
The sources told Reuters that oil and fuel revenues remain a major source of income for the Russian budget, prompting Moscow to maintain high supply levels despite Western sanctions and repeated attacks targeting refineries. They added that production levels are not expected to remain at the same level in August.
Russia stopped publishing oil production data in 2023, but OPEC data showed that Russian production fell in June to 8.928 million bpd compared to 8.989 million bpd in May. The average production for 2025 is projected to be around 9.129 million bpd.