What was the impact of Ukrainian attacks on Russian crude oil production in May, according to the IEA?

According to the IEA, Ukrainian strikes on Russia's energy infrastructure caused Russian crude oil production to drop around 5% year-on-year to 8.7 million barrels per day in May — 10% below its target for that month.

How did the IEA adjust its 2024 forecast for Russian crude oil production, and why?

The IEA cut its 2024 Russian crude oil production forecast by 200,000 barrels per day to 8.95 million bpd, citing continued Ukrainian strikes on oil infrastructure — including an expansion into more remote production areas using longer-range drones.

IEA Says Ukrainian Attacks Push Russian Oil Output 10% Below Target in May

Jun 17, 2026

The IEA reported Russian crude oil production missed May targets by 10% due to Ukrainian strikes, dropping 5% year-on-year to 8.7 million barrels per day. Revenue fell as Moscow prioritizes domestic supply despite stable exports.

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