Russia's July crude oil production averaged 8.887 million barrels per day, nearly 1 million barrels below its OPEC+ monthly target of 9.824 million barrels. Near-daily Ukrainian strikes on Russian oil infrastructure threaten refining volumes and export capacity, while the Middle East conflict continues to weigh on global energy markets.
Russia's crude oil production in July came in nearly 1 million barrels per day below its OPEC+ quota, according to ChainCatcher. Average daily output stood at 8.887 million barrels, versus a monthly target of 9.824 million barrels.
Ukrainian strikes on Russian oil infrastructure have become a near-daily occurrence, threatening both refining volumes and export capacity. Fresh pressure on global energy markets is also coming from the ongoing conflict in the Middle East.
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