The IEA slashed its 2026 Russian crude forecast by 125,000 bpd to 8.7 million bpd as Ukrainian drone strikes degrade refining capacity and output

The IEA cut Russia's 2026 and 2027 oil output forecasts as Ukrainian drone strikes and Western sanctions combine to cripple the country's

IEA cuts Russian oil output forecast due to Ukrainian attacks. Crude oil reaching a new all-time high by December 31 at 13% YES.