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Russia’s oil output falls 19.3% y/y in July as refinery attacks bite

July petroleum production declined for the seventh consecutive month, though the pace of the annual drop eased from June. Year-to-date output is down 9.2% through July.

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Sophie Laurent · FX & Rates Desk · 30 Aug 2026 · 05:46 · 1 min read
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Russia’s oil output falls 19.3% y/y in July as refinery attacks bite

Russia’s petroleum and coke production fell 19.3% year-over-year in July, the statistics agency Rosstat reported on Wednesday. The decline marked the seventh consecutive monthly contraction and followed a 21.7% annual drop in June.

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On a month-over-month basis, output rose 5.6% in July compared with June, indicating a slower pace of deterioration. For the first seven months of 2025, production has declined 9.2% versus the same period last year, according to Rosstat.

The sustained decrease in fuel output has been attributed to Ukrainian drone strikes on Russian oil refineries, which have disrupted processing capacity and constrained production volumes. Rosstat did not disclose absolute production figures in its latest release.

This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Sophie Laurent
FX & Rates Desk

Sophie covers currency markets and central bank policy across Europe, with a focus on how rate decisions ripple through FX pairs. She has been tracking the ECB's policy path since the start of the current easing cycle.

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