Russian oil output slips 0.6% in February amid sanctions in Oil & Companies News 12/03/2026 Russian oil production declined by approximately 56,000 barrels per day in February compared to January, reaching 9.184 million bpd, according to OPEC monthly data reviewed by Reuters on Wednesday. Russia has maintained relatively stable oil production levels despite Western sanctions imposed over Ukraine. The country’s crude exports to India, its second-largest buyer after China, decreased due to pressure from the U.S. Russian oil sales to India have begun recovering since February after Washington granted Indian refiners a 30-day waiver from sanctions to purchase Russian oil loaded on vessels as of March 5. The waiver was designed to offset the global oil crunch triggered by the Iran war. Russia ranks as the world’s third-largest oil producer after the U.S. and Saudi Arabia. Source: Investing.com 2026-03-12 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share