Russia’s oil output falls again as US sanctions bite

Russia’s crude oil output fell for a second consecutive month in January, as US sanctions and diplomatic pressure make it harder for Moscow to sell its barrels on the international market.

Sources familiar with the data said Russia pumped an average of 9.28 million barrels per day last month, down 46,000 barrels from December, Caliber.Az reports via foreign media.

The figure is nearly 300,000 barrels below the nation’s production quota under its agreement with OPEC and allied producers.

The decline comes amid growing volumes of Russian crude stuck on tankers, highlighting delays in finding buyers. Accumulated crude on water reached 143 million barrels at the start of February, almost double the level seen a year ago.

The slowdown follows US President Donald Trump’s announcement that he lifted a 25% tariff on India in return for New Delhi halting oil purchases from Russia. While Indian authorities confirmed the trade deal, details—including the impact on Russian oil—remain unclear. Many Indian refiners have since paused buying spot cargoes.

Some Russian crude has started heading to China, another major buyer, but it is uncertain how much of the surplus Beijing is willing to absorb.

Russia’s shrinking output could pose a risk to its state budget, which relies on the oil and gas sector for around 23% of revenues. January oil proceeds already hit a five-year low due to weaker prices, rising discounts, and a stronger ruble.

Deputy Prime Minister Alexander Novak has said OPEC+ expects global demand to increase from March or April, though Moscow has urged caution in boosting production. Analysts warn that continued cuts could see Russia lose market share to other OPEC+ members.

Russia has classified much of its oil data, making independent verification difficult. The Energy Ministry has not commented on January’s output or future production plans.

By Aghakazim Guliyev