Russia's oil output down 460,000 bpd year-on-year in April, IEA says

Russia's crude oil production fell by 460,000 barrels per day year over year in April to about 8.8 million bpd, according to the IEA. The decline was linked to Ukraine's stepped-up drone attacks on energy targets, adding supply-risk pressure to global oil markets. The report is negative for Russian output and modestly supportive for oil prices, though the immediate market impact is likely limited.

Analysis

Russia's crude oil production fell by 460,000 barrels per day year over year in April to about 8.8 million bpd, according to the IEA. The decline was linked to Ukraine's stepped-up drone attacks on energy targets, adding supply-risk pressure to global oil markets. The report is negative for Russian output and modestly supportive for oil prices, though the immediate market impact is likely limited.