Russia continues oil shipments, Peskov says stabilising markets

Kremlin spokesman Dmitry Peskov told reporters on April 23, 2026 that Russia is continuing to supply oil to world markets and is contributing to efforts to limit the fallout from the energy crisis triggered by the war in Iran. He added that Moscow currently has no new initiative to propose within OPEC+.

Peskov said demand is rising while the amount of oil offered to the market is not increasing and in some respects is declining. His remarks echo warnings from the International Energy Agency (IEA) that the conflict has produced one of the most serious shocks to global energy markets in recent decades. OPEC+ agreed in early April to raise May quotas by 206,000 barrels per day, but key producers face constraints in actually ramping up output; the group is due to meet on May 3.

Markets have reacted with higher crude prices: intraday indicators showed Brent trading around $103.6 a barrel and WTI near $94.5, reflecting the premium attached to supply security amid regional disruption. Those price moves feed through to inflationary pressures and refine margins, prompting renewed attention from central banks and fiscal authorities monitoring energy‑driven price shocks.

The statement highlights the geopolitical dimension of current energy flows. Disruptions around the Strait of Hormuz and other Middle East chokepoints have tightened physical supply, while sanctions, logistics and technical limits constrain the ability of producers to rapidly offset lost barrels. In this environment, shipments from major exporters such as Russia can have an outsized stabilising role even if structural risks remain.

Analysts say the near‑term outlook is for continued volatility. Market participants will watch OPEC+ deliberations, tanker flows and on‑the‑ground production reports for signs of sustained supply relief. While Moscow’s pledge to keep shipments flowing may temper immediate spikes, analysts warn that persistent geopolitical uncertainty and limited spare capacity mean prices could remain elevated and sensitive to further shocks.