Russian Oil Production Collapses to 20-Year Low [Video]

Russia’s average daily production of crude oil in 2024 slumped to its lowest level in nearly two decades, according to the latest figures, which reportedly show the impact of Ukrainian drone strikes on Russian energy infrastructure.

Data from oil trade analytics platform Seala showed that crude oil production this year in Russia averaged 1,254 metric tons per day—the lowest since 2005.

Military news site Militarnyi was among the Ukrainian media outlets that cited the figures, along with data that production at oil refineries in Russia had fallen to their lowest levels since 2012 because of unscheduled repairs following the drone attacks.

Newsweek has contacted Russia’s Finance Ministry for comment by email.

Why It Matters

Oil is a key revenue generator for Russia, which is the world’s third largest producer of the resource, accounting …