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
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
22 April 2026
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
