Russia's oil export revenues in February 2026 fell to their lowest level since the full-scale invasion of Ukraine due to Western sanctions and attacks on oil infrastructure in Russia. This was reported by Bloomberg, citing the International Energy Agency (IEA).
Details
It is noted that in February, Russia earned $9.5 billion from the export of crude oil and petroleum products, which is $1.5 billion less than the previous month. And the total volume of oil exports decreased by 850 thousand barrels per day - to 6.6 million barrels.
According to IEA estimates, this is also the lowest level since the beginning of the full-scale invasion of Ukraine. In particular, the decline in revenues occurred after a further increase in discounts on Russian oil and increased US pressure on Moscow.
Oil unlikely to reach $200 - US Energy Secretary12.03.26, 14:59
At the same time, Ukrainian strikes on oil infrastructure and fuel plants in Russia reduced oil refining volumes by approximately 300 thousand barrels per day - to 5.1 million barrels per day in February. As a result, Russia's daily crude oil production decreased by 710 thousand barrels - to 8.55 million barrels per day.
The IEA notes that this is approximately 1 million barrels per day less than Russia is allowed to produce in February under the agreement with OPEC and its allies.
At the same time, it is reported that the escalation in the Middle East could increase demand for Russian oil, as several countries in the region are cutting their own production.
According to IEA forecasts, Russian oil production is expected to average 9.3 million barrels per day by the end of 2026.