Russian Oil Producers Accelerate New Drilling

Russian oil companies are drilling new wells at the fastest pace in at least five years. Thus, Russia is preparing both for a possible relaxation of production restrictions within the Organization of Petroleum Exporting Countries OPEC+, and for a possible...

Russia got into trouble in a way that the West did not expect: sanctions do not prevent it from reaching the maximum: EADaily

EADaily, April 25th, 2025. Russian oil companies are drilling this year in a way they haven't done for at least five years. Sanctions did not prevent us from reaching the maximum drilling while OPEC+ plans to increase production and possibly easing sanctions against Russia due to the settlement of the conflict on Ukraine.

Russian Oil Producers Accelerate New Drilling

New oil well drilling in Russia has accelerated to the fastest in five years despite the recent oil price decline, Bloomberg has reported, suggesting the pick-up in activity anticipates a further reversal in OPEC+ production cuts and the possibility for the removal of U.S. sanctions. The current level of drilling activity is also some 30% higher than it was before the war in the Ukraine started, Bloomberg noted, in evidence of the resilience of …

Russia Drills Oil Wells at Fastest Pace in 5 Years as Curbs Ease

Russia’s oil producers have been drilling wells at a pace not seen in at least five years as the nation readies for both a loosening of OPEC+ output limits and the possibility of relief from some international sanctions over its invasion of Ukraine.

Oil has plummeted in price, gas is not selling, the Kremlin is losing the revenues necessary to continue its criminal war. How to fill the budget hole? The regime has two methods: freezing the savings of all Russians for three years and increasing personal income tax (PIT) and corporate income tax (CIT).

Russian oil companies are drilling at a record intensity not seen in at least the past five years. This comes amid expectations that OPEC+ restrictions will be eased and some international sanctions imposed due to the war in Ukraine are likely to be eased. Drilling volumes have already exceeded pre-war levels by more than a third, which demonstrates the ability of the Russian oil and gas sector to adapt to Western pressure. Sanctions aimed at li…