IEA cuts Russian oil output forecast amid Ukrainian attacks

The IEA has reduced its Russian oil output forecasts following Ukrainian drone strikes that crippled energy infrastructure. This downward revision signals a potential tightening of global oil supplies, which could exacerbate energy market volatility and influence price dynamics. These changes occur amid ongoing geopolitical tensions, as the damage to infrastructure directly impacts production capabilities. The forecast cut highlights the significant effect of Ukrainian attacks on Russian energy output and the resulting implications for the global oil market.