Russia Cuts Oil Drilling as Money Dries Up, With Output at Risk

Russia’s oil producers reduced the pace of drilling in 2025 to the lowest level in three years, dimming the outlook for output growth this year as Western sanctions and a...

By Alaric Nightingale · Bloomberg Markets

Russia’s oil producers reduced the pace of drilling in 2025 to the lowest level in three years, dimming the outlook for output growth this year as Western sanctions and a strong ruble undercut revenue.