Russia’s oil output falls further below OPEC+ quota after Ukrainian strikes

Russia produced an average of 8.718 million barrels of oil a day in August 2026, down 160,000 barrels a day from the revised July average and marking the largest monthly decline since Russian oil output began falling in December 2025, Bloomberg reported, citing OPEC’s monthly report.

Russia’s daily oil production in August was also 1.17 million barrels below the level required of the country under its agreement with OPEC+ partners.

“The data point to strong pressure on Russia’s oil industry after Kyiv stepped up attacks on refineries and oil-export infrastructure on the Black and Baltic seas. The strikes forced refineries to reduce crude processing while also preventing Russia’s largest oil companies from sending crude for export,” Bloomberg wrote.

Ukraine’s Defense Forces attacked Russian oil refineries at least 22 times in August, according to Bloomberg’s calculations. The attacks forced the Russian government to extend its ban on most diesel exports until September, while gasoline rationing resumed in some regions.

Ukraine also struck vessels and infrastructure at southern Russian ports in August, including Novorossiysk, a key hub for Black Sea oil exports.

As previously reported, the Russian government already expects oil production in 2026 to decline from its previous forecast because of lower crude-processing volumes.