The IEA forecasts Russian oil refining at around 4 million barrels per day over the next 18 months, citing cumulative damage from Ukrainian strikes and sanctions.

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.