Fact Check: Russia is a major global producer of oil and gas.

Fact Check: "Russia is a major global producer of oil and gas."

What We Know

Russia is widely recognized as one of the leading global producers of oil and gas. According to a report from Reuters, Russia's oil output is projected to be between 515 and 520 million metric tonnes in 2025, indicating a stable production level despite geopolitical tensions (source-1). Additionally, Russia's energy strategy anticipates a significant increase in liquefied natural gas (LNG) exports, with projections of rising from 45 billion cubic meters (bcm) in 2023 to 142 bcm by 2030, and further to 241 bcm by 2050 (source-2).

In May 2025, Russia's fossil fuel export revenues were reported at EUR 565 million per day, despite a decrease in overall revenues due to sanctions and market fluctuations (source-4). This indicates that while revenues may fluctuate, Russia continues to maintain a significant role in the global energy market.

Analysis

The claim that "Russia is a major global producer of oil and gas" is supported by multiple credible sources. The projected oil output of 515-520 million tonnes places Russia among the top three oil producers globally, alongside Saudi Arabia and the United States (source-1). Furthermore, the anticipated growth in LNG exports underscores Russia's strategic importance in the global gas market (source-2).

However, it is essential to note the context of these figures. Russia's energy sector has faced challenges due to international sanctions and a decline in revenues, which fell by 35% year-on-year in May 2025 (source-3). Despite these challenges, the volume of oil and gas production remains substantial, indicating that Russia's role as a major producer is not diminished.

The reliability of the sources used in this analysis is high, as they include reports from reputable news organizations like Reuters and analyses from energy experts. These sources provide a comprehensive view of Russia's production capabilities and market dynamics, making them credible for evaluating the claim.

Conclusion

The claim that "Russia is a major global producer of oil and gas" is True. The evidence presented from multiple credible sources indicates that Russia maintains a significant position in the global energy market, with substantial oil and gas production levels projected for the coming years. Despite facing economic challenges and sanctions, Russia's output remains among the highest globally, solidifying its status as a major energy producer.

Sources

1. Russia sees oil output at 515-520 million tonnes in 2025, Novak says
2. Russia sees stable oil exports and booming gas business by 2050
3. Russia's oil and gas budget revenue falls by more than a third
4. May 2025 — Monthly analysis of Russian fossil fuel exports and sanctions
5. Russia's Oil & Gas Sector in 2025: A Strategic Shift East (Part 1)
6. Russia's Oil & Gas Sector in 2025: A Strategic Shift East (Part 2)