Russian production thaws
It was keeping to the pledge not to lift oil output. Now the battle is to sustain recent highs
DOHA may have yielded nothing, but Russia’s oil output is nonetheless firmly in the freeze frame as industry sceptics try to establish whether the Kremlin is as committed to keeping production as high as it says it will. Oil output was edging higher as Russia attempted to coordinate a broad oil-output deal to hit the brakes on further supply-side gains. Even before that deal collapsed on 17 April, question marks were hanging over its own commitment to freezing supply – about whether it would pump more, or whether it was facing certain decline anyway. Now the government, stung by the Doha failure and the prospect of even higher supply reaching markets by an unfettered Saudi Arabia, is getting
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
