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Ukraine attacks continue to intensify pressure as the IEA cuts its forecast for Russia’s oil production

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Crypto message, the International Energy Agency (IEA) said on Friday that it has lowered its forecast for Russia’s oil production due to Ukraine’s attacks on Russia’s energy infrastructure. In recent months, Ukraine has increased drone attacks on energy facilities, including refineries, in an attempt to curb Russia’s actions. In its monthly outlook, the IEA said: “Ongoing attacks on refineries, oil storage facilities and transportation infrastructure support a weakening production outlook, so we have therefore lowered our forecasts for Russian supply for this year and next year by 85k barrels per day and 150k barrels per day, respectively, with an average of 8.8 million barrels per day over the forecast period.” The IEA expects Russia’s oil production to reach 8.9 million barrels per day this year and 8.8 million barrels per day in 2027, lower than 9.2 million barrels per day in 2025. The agency said that Russia’s June crude oil output rose by 120k barrels per day from May to 8.86 million barrels per day, which is 900k barrels per day below the quota set by the OPEC+ alliance.
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SugarAirdropDream
· 4h ago
The rate at which the IEA lowers its forecast is even faster than oil prices falling.
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AlmondMilkLiquidator
· 4h ago
OPEC+ quotas are basically like a prop—Russian oil’s actual output keeps contradicting it every day.
View OriginalReply0
LateFeeLeo
· 4h ago
In June, the rebound reached 8.86 million, but it still falls short of the quota by a stretch— is it really this hard to restore capacity?
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MinersUnderTheNeonBridge
· 4h ago
Not until 2027 at just 8.8 million? This downward curve looks a bit steep.
View OriginalReply0
TacoTreasury
· 4h ago
Drone strikes on refineries are brutal—more direct than sanctions.
View OriginalReply0

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