Russian oil production fell in May to approximately 8.7 million barrels per day, marking a 5% decrease year-over-year and a 10% shortfall against monthly targets. The International Energy Agency (IEA) attributes this decline to intensified Ukrainian attacks targeting Russia’s energy infrastructure. This represents a substantial disruption to Russian oil output. The attacks appear to be directly impacting Russia’s ability to meet its production goals. The IEA’s assessment confirms a link between the ongoing conflict and Russia’s energy sector performance. This reduction in production could have wider implications for global oil markets, though the full extent remains to be seen.