russia cuts oil and gas forecasts amid sanctions and attacks

Russia's downward revision of oil and gas production/export forecasts due to sanctions, high military spending, and high interest rates signals a supply-side constraint for global oil markets. The channel is supply_shortage: reduced Russian output and exports tighten global crude supply, supporting Brent/WTI prices. Impact is global but especially affects European refiners and emerging markets reliant on Russian crude. The mechanism is direct: lower Russian supply raises oil prices, benefiting non-Russian producers but squeezing import-dependent economies.