Russia is increasing oil production and exports after recovering from earlier disruptions caused by drone attacks on key energy infrastructure, according to Bloomberg. The rebound in supply capacity alleviates concerns over constrained global crude availability, easing upward pressure on prices that had been supported by tighter non-OPEC+ output. This resurgence in Russian flows reinforces bearish sentiment in the global oil market, particularly as it coincides with tepid demand growth from major importers and ongoing OPEC+ production uncertainties. The renewed supply overhang is most bearish for medium-sour crude grades and could weigh on Urals crude differentials versus Brent. Traders will watch the next IEA Oil Market Report for revisions to non-OPEC supply forecasts, especially Russian output figures for April and May.
Russia Set to Ramp Up Oil Flows as Impact of Drone Strikes Fades
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