Russia’s Oil Earnings May Get Clobbered by OPEC

Big supply increases this year threaten a global oil glut that could knock the Kremlin’s budget out of whack.

Men in suits and ties and one man in a brown, gold, and white dishdashah sit in an audience. October 16, 2025, 1:16 PM

Russia’s War in Ukraine

Understanding the conflict three years on.

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Europe, Britain, and even the United States, after a fashion, have all stepped up their pressure on Russia’s energy revenues in recent weeks, aiming to bankrupt the Russian war machine.

But the biggest threat on the horizon for an already reeling Russian economy may be its former OPEC pals, who in recent months have opened the taps on a flood of new oil production, helping to drive crude prices to a five-month low .

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