Russia’s crude oil production increased by approximately 100,000 barrels per day in July, crossing back above the psychologically important 9 million barrels per day threshold. In June, Ukrainian drone strikes on key refinery infrastructure had pushed output down to around 8.86 million barrels per day. Combined crude and condensate production reached approximately 10.46 million barrels per day in July. The International Energy Agency forecasts Russian oil output will average 8.9 million barrels per day in 2026 and 8.8 million in 2027. OPEC+ has approved Russia’s plan to ramp output to nearly 9.949 million barrels per day by September 2026.
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