Russia's crude oil production decline slowed in September, averaging 8.643 million barrels per day, according to OPEC. This represents a drop of only 38,000 barrels per day from the revised August average. The country's oil industry faces severe strain as Ukrainian attacks on refineries force production cuts and shift exports overseas.
Processing rates remained below 4 million barrels per day, far under the pre-war seasonal norm of 5.4–5.5 million. Rystad Energy projects continued low throughput of 3.5–4 million barrels daily if strikes persist. Despite a proposed US-brokered.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing