Russia's oil production has declined for a sixth consecutive month, with escalating Ukrainian drone attacks on the country's energy infrastructure contributing to the downturn by disrupting storage and transportation facilities needed to sustain output.
Russian crude and condensate production fell to 9.009 million barrels per day (bpd) in May, down from a recent peak of 9.38 million bpd in November, according to data published by OPEC. Output has fallen by roughly 370,000 bpd since then.
The decline leaves Russia producing about 690,000 bpd below its OPEC+ quota, according to Bloomberg calculations based on OPEC data.
Ukraine sharply intensified attacks on Russian oil infrastructure in May, with at least 31 strikes recorded against refineries, export terminals and pipelines, Bloomberg reported. That was the highest monthly total since the start of the war.
Most of the attacks last month targeted fuel production facilities, causing Russian refinery throughput to fall to its lowest level since 2009.
