The International Energy Agency (IEA) has again reduced its forecast for Russia's oil production due to ongoing Ukrainian drone attacks on the country's energy infrastructure. Russia, the world's third-largest oil producer, is expected to average 8.7 million barrels per day in 2026 and 8.6 million barrels per day in 2027. This is a decline from previous forecasts, with the IEA cutting Russia's crude output by 125,000 barrels per day for 2026 and 235,000 barrels per day for 2027. The IEA also reported that Russia's oil production declined by 200,000 barrels per day in August compared to July, reaching a level of 8.36 million barrels per day. This is significantly lower than the peak of 9.3 million barrels per day reached in January 2024 and below year-ago levels. The attacks on Russia's energy infrastructure, including oil refineries, have contributed to these declines.