Oil prices are on track for their biggest monthly decline in six years as May trading concludes, providing some relief to consumers who have faced elevated fuel costs in recent months.

The price decline comes amid supply disruptions affecting major oil-producing regions. In Kazakhstan, oil output at the Tengiz field has decreased following an accident, according to industry sources. The Tengiz field is one of the world's largest oil fields and a significant contributor to global crude supply.

Separately, Russia's diesel production has fallen an additional 10% in May following drone attacks on energy infrastructure, according to data analysis. This represents a further decline in Russian fuel output, adding to concerns about global energy supply chains.

The supply disruptions in both Kazakhstan and Russia have contributed to market volatility, though the overall trend for May has been downward pressure on oil prices. The monthly decline marks the steepest drop in crude prices since 2018.

Consumers have begun to see some relief at gas stations as the lower crude prices work their way through the supply chain. However, energy analysts continue to monitor geopolitical developments and their potential impact on global oil markets.