Russia Admits Oil Production Decline After Ukrainian Drone Attacks

Deputy Prime Minister Alexander Novak acknowledged that Russian oil production has declined since the start of 2026. Speaking at the St Petersburg International Economic Forum, Novak attributed the decrease to unscheduled maintenance at several oil refineries. This admission comes after a campaign of Ukrainian drone attacks in May that targeted energy infrastructure, including the Yaroslavl, Syzran, Tuapse, and NORSI refineries.

While the Russian government has withheld official production data since April 2023, industry sources report that refinery disruptions caused a 15% surge in crude oil exports through western ports in May as Moscow diverted more crude to international markets.

Novak stated that Russia intends to meet its OPEC+ production targets by the end of the year. He noted that the government is currently operating intact export infrastructure at maximum capacity to restore overall output.