Russia is facing the threat of a reduction in oil production due to US sanctions and Ukrainian drone attacks. Source: Reuters Details: Reuters noted that the US sanctions have complicated access to tankers supplying oil to Asia,

Russia may be forced to throttle back its oil output in the coming months as U.S. sanctions hamper its access to tankers to sail to Asia and Ukrainian drone attacks hobble its refineries.

Crude futures settled off the day's lows, helped by a modestly positive report from the International Energy Agency that raised its global oil demand growth forecast for this year.

Russia's oil production may decrease due to U.S. sanctions affecting tanker access and Ukrainian drone attacks crippling refineries. With limited storage and falling exports, output cuts are likely. Russia's economic strain grows as global buyers demand non-sanctioned tankers and lower crude supply impacts revenue.

Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices.

The latest US sanctions against Russia’s oil sector have led to the suspension of most Russian tankers. Source: Bloomberg Details: Currently, 94 out of 154 tankers sanctioned under the Biden administration have stopped transporting Russian oil.