Bloomberg: Russia’s oil refining falls to lowest level in 21 years amid Ukrainian strikes

Source: Bloomberg

Russian refineries have processed an average of 3.91 million barrels of crude per day so far in July, Bloomberg reported, citing data from EA Analytics, a division of Energy Aspects, a British firm that analyzes commodity and energy markets.

That is the lowest figure since March 2005, and more than 1.4 million barrels per day below the average for July of last year.

Last week, the Financial Times reported, citing unnamed analysts, that Ukrainian strikes on oil infrastructure may have cost Russia 20–40% of its refining capacity.

Amid the Ukrainian strikes, it is not only refining that is declining but crude production as well, according to data from the Organization of the Petroleum Exporting Countries. Output fell to 8.928 million barrels of crude per day in June, the lowest level since at least February 2024, Bloomberg reported.

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Bloomberg: Russia’s oil refining falls to lowest level in 21 years amid Ukrainian strikes

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Bloomberg: Russia’s oil refining falls to lowest level in 21 years amid Ukrainian strikes

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