Sources: Russia's oil output sharply reduced

Russia was forced to significantly reduce its oil output in April due to Ukrainian drone attacks on ports and refineries and the halting of crude supplies through Russia's only remaining oil pipeline to Europe, according to several sources and calculations by Reuters, Agerpres reports.

In what could be the sharpest monthly drop in oil output since the COVID pandemic, Russia may have cut output by about 300,000 to 400,000 barrels per day in April from the average level recorded in the first months of the year, the sources said, speaking on condition of anonymity.

Oil, pumped largely from fields in western Siberia, is the lifeblood of Russia's economy, so a drop in crude output reduces revenue for the world's second-largest exporter.

However, potential production losses could be offset by the war in Iran, which has triggered a supply and production crisis on the global oil market. Russian Finance Minister Anton Siluanov said on Thursday that higher prices would help reduce the budget deficit.

In recent weeks, Ukraine has launched a wave of drone attacks on Russia's largest oil ports in western Russia, setting off vast fires, and has also targeted Russian refineries.

"Amid the ongoing attacks on Russia's ports and refineries, it will be difficult to place oil without reducing production, especially given the upcoming maintenance shutdowns,” one of the sources told Reuters.

Since the war in Ukraine began in 2022, Russia has stopped publishing data on its oil production, citing national security concerns.

Russia's oil production peaked in the late 1980s but declined after the collapse of the Soviet Union in 1991 due to a lack of investment. It then recovered in the 2000s and 2010s, reaching a post-Soviet peak in 2019, just before the COVID pandemic.

According to Reuters sources and calculations, Russia's oil production in April fell by between 500,000 and 600,000 barrels per day compared to Russian production levels at the end of 2025. A decline in one month does not necessarily mean a decline in production for the year.