Oil production in Russia has been declining for the second consecutive month. In January 2026, the average daily oil production was 9.28 million barrels, which is 46,000 barrels less compared to December 2025. This decrease coincides with an increase in the volume of Russian oil that remains on tankers at sea. This is related to the impact of American sanctions: at the beginning of February, 143 million barrels accumulated at sea, nearly double last year’s figure and 25% higher than the volume at the end of November.
This is reported by Business • Media
Global Reaction to Russian Oil
India’s refusal to purchase Russian oil in favor of trade agreements with the United States has forced some tankers to change their routes to China; however, the volumes of additional supplies that Beijing is willing to accept remain unknown. Western countries, in turn, have intensified their fight against shadow transportation of Russian energy resources. Specifically, on February 9, the Pentagon detained the tanker Aquila II in the Indian Ocean for violating U.S. sanctions. This vessel is considered part of the shadow fleet involved in the export of sanctioned Russian oil and petroleum products.
“On February 9, the Pentagon detained another vessel in the Indian Ocean – Aquila II, for violating U.S. sanctions. This tanker is involved in the export of sanctioned Russian oil/petroleum products and is considered part of the shadow fleet.”
International Initiatives and Economic Consequences
The United Kingdom has announced its intention to create a special command center to combat Russia’s shadow fleet. Its task will be to monitor vessels transporting Russian oil under foreign flags, as well as their possible detention. It is proposed to cover the costs of maintaining seized vessels through the sale of confiscated oil, with part of the proceeds directed to support Ukraine. India has also joined the fight against illegal transportation: the country’s coast guard has detained three tankers for the first time, suspected of illegal oil transportation.
The decline in production and export restrictions are negatively impacting Russia’s budget. Oil export revenues in January fell to their lowest level in the past five years. This is attributed not only to falling global prices but also to increased discounts for buyers of Russian oil and the strengthening of the ruble. Tax revenues from the oil and gas sector in January 2026 amounted to $5.1 billion, which is nearly 67% less than in January of the previous year and is the worst result since the COVID-19 pandemic.
At the same time, in 2025, Russia opened 31 new oil fields, and the recoverable reserves of oil and condensate increased by 4.7 billion barrels (640 million tons). Gas reserves increased by 670 billion cubic meters. In total, last year, Russia opened 41 new hydrocarbon fields.