Russia's oil production in February declined by 0.6% due to sanctions impact

LootboxPhobia · 2026-03-11T19:48:22+00:00

According to OPEC's monthly data, Russia's oil production in February decreased by approximately 56,000 barrels per day from January to 9.184 million barrels per day, remaining stable despite sanctions pressure. Oil exports to India have decreased, but sales have started to recover since February.

LootboxPhobia

2026-03-11 19:48:22

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Investing.com — According to OPEC monthly data reviewed by Reuters on Wednesday, Russia’s oil production in February decreased by approximately 56,000 barrels per day compared to January, down to 9.184 million barrels per day.

Despite Western sanctions against Russia over Ukraine, the country has maintained a relatively stable level of oil production. Russia’s crude oil exports to its second-largest buyer, India (after China), have decreased due to U.S. pressure.

Since February, Russia’s oil sales to India have begun to recover after Washington granted India refinery a 30-day sanctions waiver, allowing them to purchase Russian oil loaded until March 5. The waiver aims to ease the global oil supply tightness caused by the Iran war.

Russia is the world’s third-largest oil producer, after the United States and Saudi Arabia.

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