OPEC Data Shows Russia's Crude Output Decline
Russia's output peaked at 9.38 million barrels per day in November 2023.
Ukraine conducted 31 attacks on Russian energy infrastructure in May.
Russian refinery throughput hit 20-year low due to targeted attacks.
Crude oil redirected to export markets boosted seaborne shipments to 3.64 million barrels per day.
Russia produced 690,000 barrels per day below OPEC quota in May.
Oil and gas revenues account for 25-33% of Russia's federal budget.