Finance
Exclusive-Russia Cuts Oil Output in April, Sources Say
Published by Global Banking & Finance Review®
Posted on April 21, 2026
4 min readLast updated: April 21, 2026
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Russia’s oil output fell by 300,000–400,000 barrels per day in April—the sharpest monthly drop since the COVID‑19 crisis—triggered by Ukrainian drone attacks on ports, refineries, and pipeline supply disruptions, even as high global oil prices offer fiscal relief.
Russia Reduces Oil Output Due to Ukrainian Drone Attacks and Export Hurdles
Impact of Ukrainian Drone Attacks and Export Challenges on Russian Oil Production
April Production Decline and Contributing Factors
April 21 (Reuters) - Russia was forced to reduce oil output in April due to Ukrainian drone attacks on ports and refineries, as well as a halt to crude supplies via the only remaining Russian oil pipeline to Europe, according to five sources and Reuters calculations.
In what could be the sharpest monthly decline to Russian output in the six years since the COVID pandemic, Russia may have cut production by about 300,000 to 400,000 barrels per day in April, from the average level seen in the first months of the year, said the sources, who spoke on condition of anonymity.
Economic Consequences of Reduced Oil Output
Oil, pumped mostly from fields across the Western Siberian basin, is the lifeblood of Russia's $3 trillion economy so a decline in output cuts revenue for the world's second-largest exporter.
The potential losses, though, may be cushioned by the Iran war which has triggered a supply and production crisis for the global oil market. Russia's Finance Minister Anton Siluanov said last Thursday that high prices would help reduce the budget deficit.
Ukrainian Drone Attacks on Russian Oil Infrastructure
Recent Attacks and Their Effects
Ukraine over recent weeks unleashed a wave of drone attacks on Russia's biggest Western oil ports, triggering vast blazes, while attacking refineries.
"Against the backdrop of ongoing attacks on Russia's ports and refineries, it will be difficult to place oil without cutting output, especially with upcoming spring maintenance shutdowns," one of the sources told Reuters on condition of anonymity due to the sensitivity of the situation.
Russia classified oil production data shortly after the war in Ukraine began in 2022, citing national security. Russia's energy ministry declined to comment.
Historical Context of Russian Oil Production
Russian oil production peaked in the late 1980s but cratered after the 1991 collapse of the Soviet Union due to a lack of investment. It then recovered in the 2000s and 2010s reaching a post-Soviet peak in 2019 just before the COVID pandemic.
According to the sources and Reuters calculations, the April fall in production amounts to a drop of between 500,000 bpd and 600,000 bpd from Russian production levels in late 2025. A monthly decline would not necessarily mean an annual decline in production.
Ukraine's Escalation of Attacks and Exporting Constraints
Targeting Russian Energy Infrastructure
UKRAINE ATTACKS RUSSIA'S OIL
Ukraine has stepped up attacks on crucial Russian energy infrastructure - which accounts for about a quarter of Russian budget revenue - in a bid to undermine the Russian war economy.
Russia downed 11,211 Ukrainian drones in March, almost double the number in February, according to Russian state RIA Novosti news agency.
The drones have repeatedly hit the Baltic Sea ports of Ust-Luga and Primorsk, as well as the Black Sea port of Novorossiysk, Russia's main oil exporting gateways in the west of the country.
Russian oil refineries have also been subject to the attacks. Over the weekend, Ukraine also attacked the Baltic Sea port of Vysotsk.
Pipeline Disruptions and International Response
Adding to the exporting constraints, flows via the Druzhba pipeline to Hungary and Slovakia across Ukrainian territory have remained shut following attacks on pipeline infrastructure at the end of January.
The Paris-based International Energy Agency, which advises industrialised countries, has revised down Russia's oil supply projection by 120,000 bpd for the remainder of the year due to persistent attacks on refineries and port infrastructure.
It said Russia may struggle to increase production above early levels of the first quarter in the near term given damage to port and energy infrastructure.
According to the IEA, Russia's crude production increased in March to 8.96 million bpd from 8.67 million bpd in February.
The Organization of the Petroleum Exporting Countries estimates that Russia's oil output was stable in March, at 9.167 million bpd.
(Reporting by Reuters; editing by Guy Faulconbridge and Susan Fenton)
Key Takeaways
- •Ukraine’s drone campaign disabled up to 40% of key export infrastructure, including Baltic and Black Sea ports like Primorsk, Ust‑Luga and Novorossiysk, and hit refineries—forcing Russia to scale back output substantially. (themoscowtimes.com)
- •Exports through the Druzhba pipeline to Europe remain halted since January, compounding export bottlenecks and contributing to the estimated 300,000–400,000 bpd production drop in April. (themoscowtimes.com)
- •Despite falling output, soaring oil prices—driven by the Iran war and Strait of Hormuz disruptions—could help cushion Russia’s budget shortfall, as noted by Finance Minister Siluanov. (axios.com)
References
Frequently Asked Questions about Exclusive-Russia cuts oil output in April, sources say
1Why did Russia cut oil output in April 2024?
Russia reduced oil output due to Ukrainian drone attacks on ports and refineries, as well as the shutdown of the Druzhba pipeline to Europe.
2How much did Russian oil production decline in April?
Russian oil production may have declined by about 300,000 to 400,000 barrels per day in April 2024.
3Which Russian oil ports and refineries were targeted?
Ukrainian drones targeted the Baltic Sea ports of Ust-Luga and Primorsk, the Black Sea port of Novorossiysk, and several refineries.
4How have these attacks affected global oil markets?
The attacks disrupted Russian oil exports, contributing to global oil supply challenges and impacting market prices.
5What is the impact on Russia’s government revenue?
Reduced oil output lowers Russia's export revenue, affecting budget income, though high oil prices may help offset some losses.
